Survey: Obamacare to hamper manufacturer growth
A vast majority of manufacturing executives responding to a recent survey believe that Obamacare, the Affordable Care Act, will hinder growth.
That's one of the findings from a mid-year survey of senior executives conducted by the Manufacturers Alliance for Productivity and Innovation (MAPI). MApi queried 130 corporate leaders from its council programs, including CEOs, CFOs, presidents, and heads of operations, marketing, and sales on issues ranging from the current economic landscape to workforce development.
“Global uncertainty continues to be the status quo, but manufacturing executives are not deterred from plans to expand their global footprints,” said Cam Mackey, MAPI vice president and survey coordinator. “Unfortunately, they share MAPI’s concerns that global growth in 2014 will be anemic.”
Among the key findings:
- 83 percent believe the Affordable Care Act will be a drag on their companies’ growth; 79 percent feel the same about U.S. tax policy
- 72 percent feel that the manufacturing skills gap is a real issue, even if it isn’t currently having a major impact on their companies
- Most executives are cautiously optimistic about the 2014 outlook—nearly three-quarters expect sales to increase over 2013 levels (28 percent expect sales to increase by 5 percent or more)
- Executives predicted a 22 percent likelihood of another recession in the U.S. by the end of 2014
- Two-thirds expect weak employment to continue through 2014, if not longer
- 68 percent predict the Eurozone recession will last through the end of next year
- 65 percent expect slow or medium growth in China through 2014
- Only 21 percent of respondents reported making fewer long-term investments in 2013 than in 2012
- 61 percent indicated that due in part to anemic global growth, the U.S. is an especially attractive place to invest in 2013
- One-third anticipate that instability in countries such as Turkey, Syria, and Iran could slow global growth
“Not surprisingly, many executives told us that weak demand and customers’ hesitation to spend will have a negative impact on growth in 2013,” Mackey noted. “Most executives we’ve talked to continue to wait and see.”
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
