Montana's manufacturing industry

Despite the recent recession and extensive declines in wood products, manufacturing remains a substantial component of Montana's economy. Measured as products left the plants, Montana manufacturers had sales nearing $7 billion in 2009. The state's manufacturers generated more than 21,400 j...

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Bibliographic Details
Published in:Montana business quarterly 2010-03, Vol.48 (1), p.29
Main Authors: Morgan, Todd A, Keegan, III, Charles E
Format: Article
Language:English
Subjects:
Earnings
Economic aspects
Economic forecasts
Economic recovery
Employment
Forecasts and trends
Industrial production
Industrial research
Manufacturers
Manufacturing
Manufacturing industry
Montana
Profits
Recessions
Statistical data
Statistics
Workers compensation
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Summary:Despite the recent recession and extensive declines in wood products, manufacturing remains a substantial component of Montana's economy. Measured as products left the plants, Montana manufacturers had sales nearing $7 billion in 2009. The state's manufacturers generated more than 21,400 jobs, and workers earned more than $1 billion in labor income during 2009. The full force of the global financial crisis and recession did not hit Montana manufacturers until late in 2008, leading to substantial declines in 2009. Just under 63% of the Montana manufacturing firms BBER surveyed reported decreased profits for 2009, with 18% indicating profits higher than 2008. The 2010 outlook is for modest improvement in Montana manufacturing activity with expectations that the US and other major economies will continue the recovery that began in the last half of 2009. Montana manufacturers who responded to an annual survey are somewhat more optimistic about the outlook for 2010 than they were for 2009.
ISSN:0026-9921