New survey shows Minnesota manufacturers expecting stable conditions in 2019

New survey shows Minnesota manufacturers expecting stable conditions in 2019 Photo: Minnesota Department of Employment and Economic Development

January 14, 2019 09:43 AM

An annual survey shows Minnesota manufacturers reported mostly unchanged or improved conditions in 2018, according to the Minnesota Department of Employment and Economic Development (DEED).

A release Monday said the annual survey conducted by DEED and the Federal Reserve Bank of Minneapolis also found 47 percent of respondents believed production will increase this year while an equal percentage expect it to remain the same.

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The random survey included 249 manufacturers in the state and was conducted in November.

According to the release, the survey also found 94 percent of respondents expected employment to remain stable or go up, 87 percent expected equipment investment to increase or stay the same, 94 percent expected production to increase or stay the same and 95 percent expected prices to go up or stay the same.

The majority of those responding (86 percent) also reported no effect from tariffs on employment, while 80 percent said tariffs had made no impact on investment and 77 percent reported no impact on capital expenditure.

The release states 55 percent reported tariffs had caused a negative impact when it comes to cost for consumers.

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Frank Rajkowski

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