The Manufacturing Business Conditions Survey attempts to gauge the sentiments of Minnesota manufacturers concerning themselves and the state economy.
For more information about how the survey was conducted, see the survey methodology listed below the full report.
Manufacturers reported a cautiously optimistic outlook in their business indicators for 2024 compared to how their businesses performed against those indicators in 2023.
Manufacturers expect mostly unchanged conditions in 2023. In 2022, 52% of respondents indicated an increase in orders, and 51% experienced unchanged productivity. Additionally, 45% reported an increase in investment in plant/equipment.
Manufacturers anticipate recovery despite ongoing challenges in 2022. In 2021, 63% of respondents indicated an increase in the number of orders, and 53% experienced production level growth. Additionally, 38% reported increased productivity.
Manufacturers expect lingering pandemic conditions in 2021, with over half indicating they expect to go back to normal operations in more than six months.
Minnesota manufacturers reported unchanged or improved conditions in 2019, but at a lower rate than the previous year. Forty-eight percent reported unchanged productivity while 44% experienced stable employment. Manufacturers expect mostly unchanged conditions for 2020.
Minnesota manufacturers reported mostly unchanged or improved conditions during 2018. The 2018 Minnesota Manufacturing Business Conditions Survey also found that 94% of respondents expect their employment to remain stable or go up in 2019.
Minnesota manufacturers are upbeat about the economy, with 95% expecting production levels to increase or stay the same in 2018. The 2017 Minnesota Manufacturing Business Conditions Survey also found that 94% of respondents expect orders to increase or stay the same in 2018 and 90% expect exports to increase or stay the same.
Most of Minnesota's manufacturers expect business conditions in 2017 to improve or be the same as last year. More than 60% of manufacturers anticipate unchanged employment while nearly 50% expect increased number of orders.
