EAST GREENBUSH, N.Y., Oct. 11, 2012 /PRNewswire/ -- GlobalSpec (recently acquired by IHS Inc. (NYSE: IHS)), a leading provider of digital media solutions for suppliers and distributors seeking exposure to engineering, manufacturing and technical professionals, today announced the availability of its newest research report, Economic Outlook Survey 2012: State of the Industrial Marketplace.
The report features the results of a comprehensive survey of more than 1,300 engineering, technical, manufacturing and industrial professionals in the United States, 50 percent of whom influence more than $50,000 in annual spending on components, equipment or services.
The survey results reflect economic conditions that are clearly mixed, with some companies and sectors performing better than others. Among the industrial companies that participated in GlobalSpec's Economic Outlook Survey, 49 percent expect to finish the year ahead of plan, with the rest anticipating that sales will remain flat or fall short of expectations.Key findings include:
- The area of concern most cited among industrial professionals is the economy (55 percent).
- Other concerns include quality (45 percent), improving production efficiencies (43 percent), and expanding to new markets (38 percent).
- Forty-nine percent of companies anticipate growth for the rest of the year, while 32 percent anticipate no change.
- In terms of revenue expectations compared to the previous year, 40 percent anticipate higher sales and 32 percent anticipate lower sales than last year.
- The highest expectations for increased sales is in the Biotechnology/Pharmaceuticals sector, with the majority (58 percent) estimating that sales will be ahead of plan in 2012.
- The hardest hit sector is Communications – Data/Telecom/Wireless Networks, with 57 percent expecting sales to be down from their 2012 plan.
- The top three areas where industrial companies are spending more time and effort are entering new markets (56 percent), new product design & development (50 percent), and researching future projects (50 percent).
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