MINNEAPOLIS–(BUSINESS WIRE)–The worst of the recession may be over for Minnesota’s manufacturers according to the State of Manufacturing, a major survey research project sponsored by Enterprise Minnesota and partners.
Less than one in ten manufacturing executives (9 percent) anticipates a continued recession in 2011, while 40 percent foresee economic expansion. Compared to the first State of Manufacturing survey two years ago, that represents a 47 percent decline in executives predicting recession and a 32 percent jump in those who project growth.
Fifty-one percent of executives expect their firm’s annual gross revenues to increase in 2011, up from 44 percent in 2010, and up from just 23 percent two years ago. Thirty-nine percent expect their firm’s profitability to increase, up from just 17 percent two years ago.
The survey was conducted by Public Opinion Strategies, the reliable Alexandria, Va., polling firm. Results were discussed at a forum last evening. Here’s the news coverage:
- Minneapolis/St. Paul Business Journal, “Minnesota manufacturers more optimistic“
- Twin Cities Business Blog, “Survey: Worst of Recession Behind MN Manufacturers“
- Minnesota Public Radio, “Manufacturer’s survey shows positive signs for Minn. economy“
- Minneapolis Star-Tribune, “State manufacturers more optimistic“