Research: Manufacturing Business Continues to Decline
According to research conducted by Clear Seas Research (a BNP Media Company) April 16-20, 56% of active business and 50% of planned business throughout the manufacturing industry is still on schedule during the coronavirus pandemic. These numbers show a decline from the last survey April 2-6, which showed 63% of active business and 57% of planned business was on schedule. Along those lines, 11% of active business has been cancelled, which is an increase from the 9% reported in the last survey.
These numbers have declined significantly from the first survey conducted March 24-26, which showed 67% of active business and 63% of planned business was on schedule. Among other findings, the research conducted April 16-20 revealed a 73% decline in new business development activity throughout the manufacturing industry.
On a positive note, 88% of manufacturing companies surveyed said their business falls into the classification of “essential” as currently defined.
Clear Seas Research is positioned to engage with industry professionals in niche market sectors, which are all impacted in different ways by this pandemic. The industry access available to Clear Seas Research through myCLEARopinionPanel and BNP Media subscriber databases provides extensive reach to business thought leaders, decision makers, decision influencers, skilled trade professionals and general employees of companies of all sizes.
This research, “Industry Perspective on the Challenges of Today,” addresses:
- Industry concern related to the pandemic and the impact on business and the economy
- The impact of the pandemic on industries targeted for this research
- Measures being taken to keep employees, customers and others health/safe
- How industry professionals are managing current business activities and planning for the future
The full report can be downloaded here.