LUTZ BUSINESS INSIGHTS

 

2019 MANUFACTURING OUTLOOK SURVEY RESULTS

ACCORDING TO LEADING EDGE ALLIANCE NATIONAL MANUFACTURING OUTLOOK SURVEY

 

This year’s survey report contains the expectations and opinions of more than 350 manufacturing executives who produce a wide variety of products including industrial/machining, transportation/automotive, construction, food and beverage, and other products.
 

Survey results include:

  • 81% of manufacturers expect revenue to increase in 2019.
  • Optimism rates have increased by more than 12 percentage points over the last two years.
  • The top three priorities for manufacturers in 2019 include growing sales, improving profitability and addressing the workforce shortage.
  • 52% of manufacturers cited labor/talent as their greatest barrier to growth, followed by competition (34%) and profitability (25%).

U.S. manufacturing industry headwinds are significant and include both internal and external issues, such as inventory turnover ratios, expense changes, labor shortages, growth strategies, the price of raw materials and strength of the dollar, and more.

Strategic manufacturers should have ongoing conversations with all of their advisors, including their accounting and tax provider, as to how to overcome these challenges and achieve their business goals.

“There are a range of value-added services we can offer manufacturers, from tax credits to export tax incentives,” said Lutz Partner and manufacturing client group leader, Jim Honz. “What manufacturers cannot afford to do, is take a ‘wait and see’ approach.”

Please click the button below to view the full 2019 Manufacturing Outlook survey results report.

ABOUT THE AUTHOR

Jim Honz

402.492.2121

jhonz@lutz.us

JIM HONZ + TAX SHAREHOLDER

Jim Honz joined the firm in 1984 and currently serves as a Tax Shareholder. His areas of expertise include export tax incentives (IC-DISCs), choice of business entity, and methods of accounting (including Lifo Inventory). In addition, Jim works with tax-exempt organizations on tax and organizational issues.

AREAS OF FOCUS
AFFILIATIONS AND CREDENTIALS
  • American Institute of Certified Public Accountants, Member
  • Nebraska Society of Certified Public Accountants, Member
  • Certified Public Accountant
  • Silver Medal on CPA Exam for second highest score
EDUCATIONAL BACKGROUND
  • BSBA in Accounting, Creighton University, Omaha, NE
COMMUNITY SERVICE
  • Catholic Charities, Past Board Member/President
  • Nebraska Organ Recovery System, Inc., Board Member/Treasurer
  • Creighton University Financial Advisory Committee, Past Alumni Member Appointed by CU President
  • St. Wenceslaus Church, Elected Parish Council Member (Vice President), Chairman of Finance Committee
  • Creighton University Accounting Department, Past Advisory Board Member
  • SIDs 398 (Pacific Springs) & 189 (Georgetown), Elected Trustee/Chairman
  • NSCPA, Political Education Committee Member

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