Economic Concerns Continue as Manufacturers Move Through 2023

In our most recent CEO survey, the economy/market volatility and talent recruitment/retention remain the top two concerns for manufacturers. Supply chain disruptions fell to fifth place as the outlook on components and raw materials appears fairly static.

Prices Holding Steady

The majority of repondents expect raw materials and components prices to remain the same in H2 2023.

Impacts of the Downturn

CEOs reported a mixed variety of experiences with the predicted economic downturn, ranging from no impact from a downturn and not expecting one to experiencing a downturn that will likely continue into H2 2023.

What's Ahead?

With the economy in question, CEOs reported their outlook on orders for the second half of 2023 compared to the second half of 2022. Most predicted that orders would be about the same or lower, with less than a quarter seeing any growth.