Majority "proceeding cautiously," but many saw increased orders in '03, Thomas' IPB survey shows
New York — March 11, 2004 — A majority of industrial buyers are either cautiously proceeding or back to business as usual with regard to purchasing in the current economic environment, according to the latest Industrial Purchasing Barometer (IPB) survey from Thomas Industrial Network.
In addition, over 30 percent of industrial buyers reported that their company's biggest business increases came from new orders in 2003.
The IPB survey was conducted randomly among Thomas' pool of more than 1 million opt-in online users. Survey respondents represent manufacturing and engineering segments, as well as wholesale trade, distribution, service providers and government agencies.
The survey revealed that 60 percent of industrial buyers are "cautiously proceeding" with regard to purchasing in the current economic environment, while 22 percent say they are "back to business as usual."
Just 12 percent are taking a "wait and see" attitude, while a mere 4 percent say they are "not letting anything get in my way."
Additionally, the survey showed some bright spots during 2003, as industrial buyers reported specific areas in which their companies had seen business increases, including 31 percent that pointed to new orders. Other responses: profit levels, cited by 27 percent of respondents; inventory levels, 23 percent; shipments, 10 percent; and employment levels, 9 percent.
"Thomas' IPB survey results often show that industrial buyers are optimistic, even in the face of challenging economic times," said Eileen Markowitz, president of Thomas Industrial Network. "Our latest survey shows purchasers' optimism translating into proactive behavior as buyers report increases in new orders, profit levels and inventory levels at their companies."
Thomas Industrial Network is an online provider of Internet sourcing and marketing solutions for industrial buyers and sellers. The company recently launched ThomasNet.com, powered by Thomas Register and Thomas Regional, which is an industrial resource with over 650,000 distributors, manufacturers and service companies within more than 67,000 searchable categories.
