The 4Q 2013 Middle Market Indicator, a recent study performed by The National Center for the Middle Market in collaboration with Ohio State University, found good news at the end of 2013 for many industries across America, especially manufacturing.
The research shows that manufacturing and construction sectors within the middle market ended 2013 on a strong note, in comparison to other retailers that have seen slow growth and diminished improvement in hiring and project initiatives. In regards to manufacturing specifically, manufacturer respondents revealed a 10% increase in hiring expectations between Q3 and Q4. This stabilization in employment is good news for the U.S. economy of which relies heavily on mid-market companies.
Future outlook and success of manufacturing looks hopeful on both the national and global levels. In 4Q of 2013, manufacturers displayed a 12% confidence level and a 49% somewhat-confident level in the national economy, of which such assurance is up from the previous quarter. Looking towards economic prosperity by revenue within manufacturing, statistics also show that 56% and 43% of manufacturers believe the industry will grow the national and global economies, respectively.
At Estes, we have seen similar growth, and we are looking forward to a strong 2014. The company experienced a 26% revenue growth from fiscal 2012 to fiscal 2013, and is preparing for additional expansion in the coming year. Manufacturing is thriving, and Estes looks forward to continuing to build upon its operations to provide innovative, quality products to its customers.