The pandemic’s impact on the economy and high unemployment have not dampened optimism among Indiana’s manufacturers.
The Indiana Manufacturers Association’s August 2020 COVID-19 Manufacturing Survey found most survey respondents remained optimistic about their future operations. More than 70 people completed the survey of the association, which has 1,100 members throughout the state.
“While we still have a long way to go in the recovery, manufacturers appear to be finding ways to adapt and adjust in this uncertain environment,” said Brian Burton, IMA president and CEO. “Economic activity in the manufacturing sector grew in August for the fourth consecutive month, with a Purchasing Managers Index of 56%, up 1.8 percentage points from July's reading of 54.2%.”
A majority of survey respondents rated their optimism at eight or higher, with 10 being most optimistic. 23% gauged their optimism at 10 compared to 14% in July, while 14% ranked their optimism at nine as compared to 20% in the July survey; and 27% ranked their optimism at 8 compared to 26% in the previous survey.
In the next six to 12 months, 16% said they were very optimistic and 36% said they were optimistic. About 41% believed operations would remain stable while 8% were pessimistic.
A lack of childcare had the greatest impact on employers and employees, with 50% of respondents saying it affected operations.
Production capacity among survey respondents remained high, with 84% indicating they were operating at between 80% and 100% capacity.
At least 20% indicated they were performing regular COVID-19 testing on workers and 88% indicated requiring workers to disclose whether they were exposed to the virus.
