GlobalSpec Releases Results from Economic Outlook Survey for Industrial Sector
Economic indicators in the industrial sector are decidedly mixed, with some
companies optimistic and others more cautious
EAST GREENBUSH, N.Y., Oct. 11, 2012
EAST GREENBUSH, N.Y., Oct.11, 2012 /PRNewswire/ --GlobalSpec (recently
acquired by IHS Inc. (NYSE: IHS)), a leading provider of digital media
solutions for suppliers and distributors seeking exposure to engineering,
manufacturing and technical professionals, today announced the availability of
its newest research report, Economic Outlook Survey 2012: State of the
The report features the results of a comprehensive survey of more than 1,300
engineering, technical, manufacturing and industrial professionals in the
United States, 50 percent of whom influence more than $50,000 in annual
spending on components, equipment or services.
The survey results reflect economic conditions that are clearly mixed, with
some companies and sectors performing better than others. Among the industrial
companies that participated in GlobalSpec's Economic Outlook Survey, 49
percent expect to finish the year ahead of plan, with the rest anticipating
that sales will remain flat or fall short of expectations.
Key findings include:
oThe area of concern most cited among industrial professionals is the
economy (55 percent).
oOther concerns include quality (45 percent), improving production
efficiencies (43 percent), and expanding to new markets (38 percent).
oForty-nine percent of companies anticipate growth for the rest of the
year, while 32 percent anticipate no change.
oIn terms of revenue expectations compared to the previous year, 40 percent
anticipate higher sales and 32 percent anticipate lower sales than last
oThe highest expectations for increased sales is in the
Biotechnology/Pharmaceuticals sector, with the majority (58 percent)
estimating that sales will be ahead of plan in 2012.
oThe hardest hit sector is Communications – Data/Telecom/Wireless Networks,
with 57 percent expecting sales to be down from their 2012 plan.
oThe top three areas where industrial companies are spending more time and
effort are entering new markets (56 percent), new product design &
development (50 percent), and researching future projects (50 percent).
"In an economy that's still finding its legs, industrial marketers must make
smart decisions on where to invest their limited time, money and resources"
said Chris Chariton, senior vice president, product management & supplier
marketing for GlobalSpec. "There are growth opportunities but companies need
to know what industries are expanding and what activities are getting the most
attention and, most importantly, understand the platforms that make greater
use of their marketing investments and present the best opportunity to engage
Along with the results from the latest research, the report also offers
recommendations for industrial suppliers on how to:
ofocus on where the outlook is brightest
omaintain or increase their marketing presence
oconnect with prospects and customers online
The Economic Outlook Survey 2012: State of the Industrial Marketplace research
report is available as a free download from the GlobalSpec website.
GlobalSpec, recently acquired by IHS Inc. (NYSE: IHS), is the leading provider
of digital media solutions designed to connect industrial marketers with their
target audience of engineering, technical, industrial, scientific and
manufacturing sector professionals. GlobalSpec provides its registered users
with a domain-expert search engine to search more than 50,000 supplier
catalogs by specification, a broad range of proprietary and aggregated
Web-based content, over 15 annual online events, and more than 70
e-newsletters - helping them search for and locate products and services,
learn about suppliers and access comprehensive technical content. For
suppliers, GlobalSpec helps generate awareness, demand and engagement
opportunities among the professionals they are looking to reach – from inbox
to desktop, through networks and via real-time engagement.
About IHS (www.ihs.com)
IHS (NYSE: IHS) is the leading source of information, insight and analytics in
critical areas that shape today's business landscape. Businesses and
governments in more than 165 countries around the globe rely on the
comprehensive content, expert independent analysis and flexible delivery
methods of IHS to make high-impact decisions and develop strategies with speed
and confidence. IHS has been in business since 1959 and became a publicly
traded company on the New York Stock Exchange in 2005. Headquartered in
Englewood, Colorado, USA, IHS employs more than 6,000 people in more than 30
countries around the world.
IHS is a registered trademark of IHS Inc. All other company and product names
may be trademarks of their respective owners. © 2012 IHS Inc. All rights
Contact: Amber Devin
Director – Marketing Communications
Tel: 518.880.0200 ext. 5338
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