U.S. Printing Manufacturers Anticipate Increase in Sales and Hiring Over Next 12 Months
InnerWorkings Announces Results of Business and Economic Survey
CHICAGO--(BUSINESS WIRE)-- InnerWorkings, Inc. (NASDAQ: INWK), a leading global marketing supply chain company, announced today the results of its first-ever business and economic outlook study. The study reveals the attitudes and perceptions of U.S.-based printing manufacturers in regards to the economy, hiring expectations and business performance. The findings of the study provide up-to-date insights for print manufacturers, software suppliers, integrators and other companies that have an interest in the U.S. print market.
Print manufacturing is a massive industry, generating annual revenue of more than $144 billion in the U.S. alone*, said John Eisel, COO for InnerWorkings (INWK). It is an industry that remains highly relevant in todays business landscape, and our goal in commissioning this study is to keep our finger on the pulse of this often overlooked yet important sector of the economy.
A sample of more than 3,300 representatives from InnerWorkings network of the leading printing manufacturers was asked to participate in the online survey, from which nearly 1,100 responses were received. The results demonstrate that manufacturers are generally optimistic about the economy, but cautiously so. Fifty-six percent of respondents believe the economy is staying about the same. Twenty-seven percent believe the economy is improving, compared to just 17 percent who believe the economy is declining.
In terms of business performance, manufacturers are more confident. Forty-seven percent of respondents expect their companys sales to increase, compared to just 3 percent who expect sales to decline. Similarly, the vast majority of respondents 82 percent expect to hire or keep their payrolls stable.
In anticipation of the upcoming presidential election, respondents were questioned about their views on the election as it pertains to the economy. When asked which of the presidential candidates they perceive as having a more positive impact on their business, 79 percent of respondents indicated their preference for Mitt Romney over Barack Obama.
InnerWorkings has built its network of nearly 10,000 global suppliers by selecting the best-in-class providers in the space from the tens of thousands of print vendors in operation worldwide. In doing so, the company offers full-service production capabilities at competitive prices through its vast international network.
* According to Smithers Pira
InnerWorkings, Inc. (NASDAQ: INWK) is a leading global marketing supply chain company servicing corporate clients across a wide range of industries. With proprietary technology, an extensive supplier network and deep domain expertise, the Company procures, manages and delivers printed materials and promotional products as part of a comprehensive outsourced enterprise solution. InnerWorkings is based in Chicago, IL, employs approximately 1,200 individuals, and maintains 44 global offices. Among the many industries InnerWorkings services are: retail, financial services, hospitality, non-profits, healthcare, food & beverage, broadcasting & cable, education, transportation and utilities.
For more information visit: www.inwk.com.
Patti Doyle, (312) 642-3700
Source: InnerWorkings, Inc.Copyright Business Wire 2012