How to make the most of a downturn: Industrial Manufacturing
Manufacturers should prepare for various economic outcomes, because those that recalibrate early and quickly are more likely to win.
As the U.S. Federal Reserve signals its determination to lower inflation by raising interest rates, manufacturers are becoming pessimistic regarding the path of the U.S. economy, according to manufacturing executives surveyed by KPMG. Some 74 percent think there’s a greater-than-50 percent chance the U.S. will enter a recession in the 12 months to July 2023. Almost half expect the recession to be moderately severe, and 65 percent expect it to last less than a year.
Executives should prepare for not only a recession, but also the recovery that is likely to follow, by taking actions that will strengthen resilience in the short term and enhance competitiveness in the long term. These pre-emptive measures include redoubling efforts to cut costs, strengthening supply chains and using mergers and acquisitions to improve resilience.
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How to make the most of a downturn: Industrial Manufacturing
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Insight
Making the most of the downturn: Industrial Manufacturing
Manufacturers should prepare for a range of economic possibilities because those that recalibrate early and quickly are more likely to end up on top.
Insight
Making the most of the downturn
This may be unlike any previous recession, but with foresight and agile planning, some companies will come out ahead.
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