- January 31, 2005, pffc-online.com
NEW YORK, NY—According to a recent survey conducted by CMM Intl., worldwide converting professionals project 2005 will be a year of solid economic growth. Of the almost 100 converters and converting machinery and materials suppliers polled in the e-mail survey in December 2004, 80% predicted the converting industry will grow by several percent in 2005. Twenty percent predicted no improvement. None predicted a decline in economic growth.
In regards to company sales expectations in 2005, 92% predicted an increase, 6% indicated stagnation, and 2% foresaw a decline. Of that optimistic 92%, 45% forecast increases between 6% and 10%, 35% forecast between 1% and 5%, and 18% forecast as high as 11% to 20%.
Ninety-nine percent of respondents planned on either increasing (61%) or maintaining (10%) their current workforce. Only 1% plans on a decrease. Of those companies planning an increase, 67% target 1% to 5%, 25% target 6% to 10%, and 5% target an 11% to 20% jump.
Despite this optimistic outlook on the 2005 economy, 63% named the economy as the biggest challenge facing the company. The next three biggest concerns were competition (42%), changing technology (18%), and hiring needs (5%).
The survey also asked recipients to rate the various conferences and exposition in the converting and package printing marketplace. Eighty-five percent named CMM Intl. as the show they considered to be the leading converting exclusive event, followed by Drupa with 9%.
For more results from this survey, contact cmmshow.com.