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ThomasNet Industry Market Barometer: Industry Outpacing Economy

The industrial sector's recovery is growing faster than the national economy, according to ThomasNet's second Industry Market Barometer released today. Twenty-seven percent of the 1,176 industrial professionals surveyed reported business growth during the second half of 2009, an increase from 17 percent during the first half of the year. The U.S. GDP grew by 5.6 percent in the fourth quarter, and 2.2 percent in the third.

"These businesses are showing exceptional strength, resilience, and innovation," said Eileen Markowitz, ThomasNet president. "Industry is gearing up for a strong comeback. Those who are succeeding are combining creativity with cutting edge technology strategies."

Growing businesses said selling into new industries and offering new products or services drove expansion. Seventy-one percent said online strategy is also critical for 2010. And 65 percent of businesses expected growth by June 2010.

Of the respondents, 71 percent work at small businesses with fewer than 50 employees, and 70 percent earn revenues of under $10 million. The other respondents are major, global manufacturers.

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