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USA to lead manufacturing’s return to growth - June 6, 2012 Manufacturers worldwide are setting their eyes on the US to drive growth. According to KPMG’s 2012 Global Manufacturing Outlook: Fostering Growth through Innovation, 40% of the global manufacturing leaders believe that the US will account for the majority of sales and profits growth for manufacturers during the next two years, followed by China, India, Brazil and Germany. The survey also revealed that business confidence among global manufacturing executives is high, with 76% of respondents being optimistic about their business outlook for the next two years. Stephen Cooper, KPMG’s UK head of manufacturing, said: “Despite no clear resolution to the euro crisis on the table, global manufacturers are still optimistic about their business outlook for the short-medium term, and are looking to the US to drive high margin growth. In light of what is happening in Europe, the US and Asian markets are going to play an increasingly important role in the UK’s manufacturing sector. For the UK, whilst manufacturers are cautiously optimistic about future sales and profitability, active government support, together with inward investment from overseas is vital.” The survey also points to a renewed focus on innovation. The majority (72%) of global manufacturers say that the next wave of game-changing innovation for the sector is underway. Stephen added: “After several years of focusing on cutting costs, many manufacturers realise that they have to invest in expanding their product and service offerings in order to remain competitive. Historically, periods of recession have been followed by growth but manufacturers don’t simply want to rely on that. Therefore they are taking risks and committing their resources to innovation that may be groundbreaking for the sector and rewarding in the long term.” « Go Back © Business-Money.com Ltd

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