2014’s strong economic performance expected to continue in 2015

The second half of 2014 saw strong performance among MHI member companies, with momentum projected to continue through 2015, according to an economic sentiment survey prepared by ProMat sponsor MHI.

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The second half of 2014 saw strong performance among MHI member companies, with momentum projected to continue through 2015, according to an economic sentiment survey prepared by ProMat sponsor MHI.

Many end users are turning to automation to improve their bottom lines and to address the skilled labor shortage and aging workforce, said MHI CEO George Prest.

“The adoption speed of supply chain innovations—coupled with rising consumer expectations for anytime, anywhere service—has stressed traditional supply chains to near-breaking points,” continued Prest. “End users who do not adapt will struggle to remain competitive and deliver orders that are accurate and on-time.”

For this reason, 45% of member companies expect sales/new orders to grow by 10% to 20% in 2015, for a total weighted average of 9.2% growth over 2014. To keep pace with sales, staffing will grow at an equivalent rate.

Additionally, the improved economy will bolster MHI members’ capital goods purchases by an average of 8.1% over 2014, with strategic investments in new plants (20%), equipment (30%), information (25%) and technology (25%) topping their shopping lists.

The survey included MHI’s leading members from both the MHI Board of Governors and Roundtable Advisory Committee.

ProMat 2015 is scheduled to be held March 23-26, 2014 at Chicago’s McCormick Place. The tradeshow will showcase the latest manufacturing, distribution and supply chain solutions in the material handling and logistics industry. Modern’s complete ProMat 2015 coverage.

 


About the Author

Sara Pearson Specter
Sara Pearson Specter has written articles and supplements for Modern Materials Handling and Material Handling Product News as an Editor at Large since 2001. Specter has worked in the fields of graphic design, advertising, marketing, and public relations for nearly 20 years, with a special emphasis on helping business-to-business industrial and manufacturing companies. She owns her own marketing communications firm, Sara Specter, Marketing Mercenary LLC. Clients include companies in a diverse range of fields, including materials handing equipment, systems and packaging, professional and financial services, regional economic development and higher education. Specter graduated from Centre College in Danville, Ky. with a bachelor’s degree in French and history. She lives in Oregon’s Willamette Valley where she and her husband are in the process of establishing a vineyard and winery.

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Article Topics

Economy · MHI · ProMat 2015 · · All Topics
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