Manufacturers Hopeful For Economic Rebound In 2010

A new survey of small- to mid-sized U.S. manufacturers found that 44% of the companies plan to begin hiring more workers again as soon as next year, if the economy rebounds as they expect, Reuters reports.

The survey of 923 manufacturers found that 40% of manufacturers said their businesses were still declining, 18 months after the current recession began, up from just 12% last year. Only 9% characterized their current business as “thriving and growing,” down from 38% last year when the recession really took hold, and nearly 50% in 2007.

Sixty-two percent of the companies responding said they were girding for sales declines domestically. As a result, 52% said they planned to cut jobs in 2009, up from 26% last year. Forty-four percent of the manufacturers surveyed said they expect the economy to rebound next year.