Encouraged by a stronger U.S. economy and increased corporate spending, business leaders are optimistic about industry growth in 2004, a new survey shows. 63 percent of U.S. manufacturers have a positive outlook for the future and believe their industry will improve in the coming year, according to a national survey of manufacturers.
The survey, conducted by Penn, Schoen & Berland Associates Inc., also found investing in new automation technologies to be a top priority for corporations. More than half (61 percent) of respondents say their company is either in the process of investing in new automation technologies, or will be sometime this year.
“Technology spending is back because companies have a reason to invest in technology now more than ever,” said Bill Zadrozny, CEO, Siemens Financial Services, Inc. “Companies see a pickup in the demand for business equipment, they see consumer spending continue at a very high level, they see the economy improving, so they’re investing in new technologies to improve productivity, increase efficiency, and increase capacity.”