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!