The results of BDO’s 2020 Manufacturing CFO Outlook Survey show that despite fears of an industrial slump, middle market manufacturers remain optimistic about their growth prospects: 77% of survey respondents anticipate an increase in revenue in 2020.

Highlights include:

• 53% of manufacturing CFOs anticipate a recession in the next two years.
• 57% are pursuing digital transformation strategies in 2020, with investing in technology or infrastructure ranked as their top business priority.
• 21% experienced an interruption to their supply chains due to government restrictions in the last 12 months. 43% are considering domestic alternatives for supply sourcing.
• Manufacturers’ top policy priority for the 2020 presidential election is trade and tariffs. Trade policy stability is also perceived as the biggest contributor to overall industry health.
• Middle market a bright spot for manufacturing jobs: 76% are either currently hiring or planning to increase headcount in 2020.

The 2020 BDO Manufacturing CFO Outlook Survey polled 100 CFOs at U.S. manufacturing organizations with revenues ranging from $250 million to $3 billion in October and November 2019. The survey was conducted by Rabin Research Company, an independent marketing research firm, using Op4G’s panel of executives.

BDO is the brand name for BDO USA, a U.S. professional services firm providing assurance, tax, and advisory services to a wide range of publicly traded and privately held companies.