Atlanta area and Georgia manufacturing companies are facing some familiar and many new business challenges. These often include finding and retaining qualified employees, knowledge transfer, intense competition from offshore providers, tariff concerns and even the integration of artificial intelligence and machine learning. While the challenges persist, the overall outlook for industry companies appears to be positive. According to the National Association of Manufacturers (NAM) Manufacturing Outlook Survey (Second Quarter 2019), four out of five manufacturers indicated a positive outlook for their business in 2019. This was reinforced by the fact that inventory and production levels are expected to increase while exports are also expected to grow. One pressing concern is the impact of tariff uncertainties industry-wide. The survey findings help to provide insights into what Georgia manufacturers can expect in the coming months. To help clients, prospects and others analyze the results, Wilson Lewis has provided a summary of the key findings below.
The survey was conducted in late May and included responses from 689 participants. Company size ranged from those with fewer than 50 to those with over 500 employees. There were 155 responses from small manufacturers, 337 responses from medium-sized manufacturers and 197 from large manufacturers.
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While Georgia manufacturing companies are facing uncertainty, there is certainly a positive outlook for the coming months. The information contained in the survey illustrates how changing costs are impacting pricing and expected production. If you have questions about the survey findings or need assistance with a manufacturing tax or accounting issue, Wilson Lewis can help! For additional information call us at 770-476-1004 or click here to contact us. We look forward to speaking with you soon.
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