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Suppliers Signal Willingness to Hire, Invest
North American auto parts suppliers, which have been wary of expanding since the economic slump, say they're ready to hire, according to the Original Equipment Suppliers Assn.
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North American auto parts suppliers, which have been wary of expanding since the economic slump, say they're ready to hire, according to the Original Equipment Suppliers Assn.
OESA's Automobile Supplier Barometer Sentiment Index for July also reports that about two-thirds of its members plan to accelerate capital spending this year. A year ago the same proportion expected zero to 5% growth in spending. The association says investments over the next 12 months are likely to focus on upgrading facilities rather than expanding them.
The association's confidence index slipped to 60 in July from 62 in May, mainly because of a slight decline among companies with less than $50 million in annual revenue. Any index above 50 indicates positive sentiment.
OESA says almost no suppliers expect to divest assets over the next 12 months, but 58% describe acquisitions as moderately or highly likely.
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