Food & beverage manufacturers are feeling at least moderately optimistic about their prospects for 2021, according to our annual Manufacturing Outlook Survey. Asked directly how they view the new year, 21% of our 158 respondents said they were "very optimistic" and another 37% said they were "somewhat optimistic." Only 13% were pessimistic to any degree, and the remaining 29% said they were neutral or not sure. The survey had two other questions that can be taken as indicators of optimism. Asked about staffing plans, 41% said their companies plan to add staff, and 44% said they probably will maintain current staffing levels. Asked about what will happen to production levels at their companies, a plurality of 41% said the plan was to increase production by adding lines or plants, while 35% said they will probably stay the same. This optimism, however moderate, echoes the attitudes of American business as a whole, according to the economic advisory service IBISWorld. Its business sentiment index, defined as a gauge for "the overall health of the business environment," will increase 5.7% in 2021, as consumer confidence improves with an end to the pandemic in sight.
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