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State manufacturers optimistic about 2013

Minnesota manufacturers are optimistic about the industry in the coming year. Eighty-five percent said they expect production and employment levels to increase or stay the same, according to a survey by the Minnesota Department of Employment and Economic Development (DEED) and the Federal Reserve Bank of Minnesota.

In the random survey of Minnesota manufacturers conducted in November, 44 percent of those that responded expect orders to grow in 2013. One-fourth expect to hire more workers.

Among other findings in the survey:

• 87 percent expect exports to increase or stay the same.

• 92 percent expect productivity to increase or stay the same.

• 70 percent expect profits to increase or stay the same.

• 76 percent expect investments in plants or equipment to increase or stay the same.

• 80 percent expect orders to increase or stay the same.

The survey showed that manufacturers were slightly less optimistic than a year ago about overall corporate profits, economic growth, consumer spending, business investments and employment.

DEED is the state's principal economic development agency, promoting business recruitment, expansion and retention, workforce development, international trade and community development.

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