2020 Schneider Downs Manufacturers’ Economic Survey Results Released

Each year, Schneider Downs collects insights from leaders in the manufacturing industry through our annual Manufacturers’ Economic Survey. This year, our survey participants shared their perspectives on a wide array of topics including: the 2020 presidential election, the COVID-19 pandemic and associated relief provisions, as well as the general state of the industry. 

The 2020 survey results indicated that nearly 90% of participants felt the 2020 election will have some impact on their business in the coming years, with three-quarters of participants anticipating that taxes will increase in 2021. Additionally, as expected, the majority of the survey respondents were significantly impacted by the COVID-19 pandemic. Over 30% of survey participants’ businesses were shut down for some period of time, and over 75% enacted some form of cost-cutting during the year. Despite the devastating impact of the pandemic on the world, nearly all of our participants remain optimistic that their businesses will fully recover.

Review a full summary of the survey results as well as insightful articles from our professionals about the above topics, among others.  

Thank you again to all of our survey participants!

You’ve heard our thoughts… We’d like to hear yours

The Schneider Downs Our Thoughts On blog exists to create a dialogue on issues that are important to organizations and individuals. While we enjoy sharing our ideas and insights, we’re especially interested in what you may have to say. If you have a question or a comment about this article – or any article from the Our Thoughts On blog – we hope you’ll share it with us. After all, a dialogue is an exchange of ideas, and we’d like to hear from you. Email us at [email protected].

Material discussed is meant for informational purposes only, and it is not to be construed as investment, tax, or legal advice. Please note that individual situations can vary. Therefore, this information should be relied upon when coordinated with individual professional advice.

© 2023 Schneider Downs. All rights-reserved. All content on this site is property of Schneider Downs unless otherwise noted and should not be used without written permission.

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