MINNEAPOLIS (WCCO) – A recent survey of Minnesota manufacturers found that most expect business to improve or stay the same in 2018.
The Minnesota Department of Employment and Economic Development (DEED) says that more than 90 percent of manufacturers surveyed expect production levels, orders and exports to increase or stay the same over the course of the next year.
The 2017 Minnesota Manufacturing Business Conditions Survey was conducted in November and randomly given to 269 businesses in the state.
According to DEED, some of the key findings include that 87 expect of manufactures expect profits to increase or stay the same in 2018, and 85 percent expect investment in facilities to increase or stay the same.
As for the Minnesota economy, 52 percent of manufacturers expect increased growth and nearly half expect higher employment.
DEED Commissioner Shawntera Hardy said in a statement Monday that manufacturing is the state’s largest industry by gross domestic product, supporting 318,000 jobs and contributing $48.2 million to the state economy.
To read the 2017 Minnesota Manufacturing Business Conditions Survey, click here.