U.S. Printing Manufacturers Anticipate Increases in Sales and Hiring
CHICAGO—Sept. 4, 2012—InnerWorkings Inc., a leading global marketing supply chain company, announced the results of its first-ever business and economic outlook study. The study reveals the attitudes and perceptions of U.S.-based printing manufacturers in regards to the economy, hiring expectations and business performance.
“Print manufacturing is a massive industry, generating annual revenue of more than $144 billion in the U.S. alone*,” said John Eisel, COO for InnerWorkings. “It is an industry that remains highly relevant in today’s business landscape, and our goal in commissioning this study is to keep our finger on the pulse of this often overlooked, yet important sector of the economy.” (*According to Smithers Pira.)
A sample of more than 3,300 representatives from InnerWorkings’ network of the leading printing manufacturers was asked to participate in the online survey, from which nearly 1,100 responses were received. The results demonstrate that manufacturers are generally optimistic about the economy, but cautiously so:
- 56 percent of respondents expect the economy to stay about the same,
- 27 percent believe the economy is improving, and
- just 17 percent believe the economy is declining.
In terms of their own business performance, printers are more confident. Forty-seven percent of respondents expect their company’s sales to increase, compared to just 3 percent who expect sales to decline.
Similarly, the vast majority of respondents—82 percent—expect to hire or keep their payrolls stable.
In anticipation of the upcoming presidential election, respondents were questioned about their views on the election as it pertains to the economy. When asked which of the presidential candidates they perceive as having a more positive impact on their businesses, 79 percent of respondents indicated their preference for Mitt Romney over Barack Obama.
InnerWorkings Inc. (NASDAQ: INWK) is a leading global marketing supply chain company servicing corporate clients across a wide range of industries. With proprietary technology, an extensive supplier network and deep domain expertise, the Company procures, manages and delivers printed materials and promotional products as part of a comprehensive outsourced enterprise solution. InnerWorkings is based in Chicago, employs approximately 1,200 individuals, and maintains 44 global offices.