64% of Small Manufacturers Anticipate Growth as Business Confidence Rebounds to Pre-COVID-19 Levels

Suppliers and small manufacturers showed a significant rebound in business confidence for manufacturers, with 56% reporting a mild to strong increase in business, compared to the same time last year.

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Nearly 67% of manufacturers surveyed expect a mild to strong increase in business compared to only 61% of external respondents, according to an Xometry report. In fact, suppliers and small manufacturers showed a significant rebound in business confidence for manufacturers, with 56% reporting a mild to strong increase in business, compared to the same time last year.

“Small manufacturers are beginning to see light at the end of the COVID-19 tunnel and optimism is abundant,” says Laurence Zuriff, chief strategy officer, Xometry. “While COVID is certainly not over, manufacturers are in a position to start looking ahead, and we expect the industry to play a vital role in accelerating the American economy.” 

From BusinessWire:

  • The Coronavirus disease (COVID-19) still remains a concern, with 46% of small manufacturers expecting it to have an impact on their anticipated business for the next six months. 
  • 47% of small manufacturers plan on hiring this quarter, with 50% of respondents reporting that the ability to find skilled employees is having an impact on hiring plans for the next six months. 50% of respondents cite it as the primary barrier to filling open positions. 
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