Chicago area manufacturers optimistic about sales over next 12 months
SCHAUMBURG – Manufacturers in the Chicago region were optimistic in June about sales over the next 12 months – a good sign for the second half of 2018 and first half of 2019.
At the same time, those answering the survey in June were not so optimistic about growth in capital spending or employment in the next 12 months.
While sales expectations have continued to grow over the past five months, anticipation about capital spending and employment has been up and down, survey responses indicate.
The Technology & Manufacturing Association, based in Schaumburg Illinois, has been conducting a monthly survey of a sampling of their 800 manufacturing company members since August 2017.
“We are interested in learning what our members are seeing and what they are thinking firsthand about issues of importance to manufacturing,” TMA Vice President Dennis LaComb said.
Manufacturing makes up 8.85% of Illinois’ jobs – a substantial industry in the Land of Lincoln. It also creates 13.36% of the state’s gross product.
“Are our members encouraged or not so encouraged as they reflect on what’s coming through their shop floors? That’s what we want to know, and what we are in turn sharing with our members,” LaComb said.
TMA is made up of small to mid-sized manufacturing businesses in the greater Chicago region. It started in 1925 with eight small business owners, and has grown to 800 plus manufacturing and affiliate members.