ThomasNet Offers Industry Market Barometer

ThomasNet recently completed a survey of U.S.manufacturers, distributors and service companies. The Industry Market Barometer, as they call it, measures companies’ performance, uncover strategies for growth and depict the overall segment outlook. The majority of respondents were small and mid-sized companies (80% of the respondents employed less than 500 employees.

The overall findings were very encouraging. They state “Several key indicators all demonstrate a sector that’s “caught on fire” – taking into account more company growth, fewer business declines, a resumption of hiring, a winding down of layoffs, and new investments. Moreover, the kinds of jobs that companies are adding indicate further growth to come.” Some of the interesting findings include: 45% of the respondents claim their company has gown in the period between January to June 2010. 60% of the respondents expect their company to grow through the end of December 2010. 34% plan to hire new employees. Of that 34%, one quarter of them plan to hire line workers indicating increased production demand.

Forty percent of the responding companies plan to invest in new technology, 37% in facilities/renovations, and 36% in capital equipment. Finally, the methodologies to be employed to create the growth include an increase in online marketing, pursuit of business in new industries, develop new innovative products or services, and pursue business in new US geographic areas.

For more information visit www.thomasnet.com.

The author, Marge Bonura, is the Director of Sales & Marketing for New England Machinery, Inc. (NEM). NEM is a leading manufacturer of bottle unscramblers, cappers, orienters, retorquers, lidders, pluggers, pump sorter/placers, scoop feeders, hopper elevators and much more. The company has been in business since 1974 selling to the food, beverage, pharmaceutical, personal care, chemical, household products, automotive and other industries. For more information on NEM, visit their website at www.neminc.com.