US Manufacturing: Better, But Not Out of the Woods
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US Manufacturing: Better, But Not Out of the Woods
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For American manufacturing, the Covid crisis is in many ways similar to World War II: an unprecedented challenge requiring novel and untried solutions. US manufacturing has simultaneously answered the call to produce critical goods to address the pandemic, while struggling to maintain a skills base and organizational structure during widespread shutdowns. The effect has been particularly hard on middle-market manufacturing companies, representing an estimated 17% of all midsize firms in the US.
According to the BDO survey, nearly ¾ of CFOs at midsize manufacturers say that their businesses are currently struggling or just surviving. Most expect 2021 to be a better year. But will it guarantee survival? Eskander Yavar, Manufacturing Practice Leader at BDO and NAM board member, discussed these issues with Jim Anderton.
Read BDO USA’s 2021 Manufacturing CFO Outlook Survey for more details.