Manufacturers Eye Revenue Growth Despite Tariff Pressure
A Wipfli survey of 342 facilities shows industry optimism at its highest level since 2022, though confidence in hitting financial targets remains limited.
Updated on Nov. 10, 2026 in Economic Indicators
Live Poll
Do you expect prices for everyday goods to rise over the next year?
Two-thirds of manufacturers expect revenue growth in 2027, according to the Wipfli Manufacturing Pulse Survey covering 342 facilities. Only 25% are very confident they will achieve their financial targets.
Why it matters
The findings point to renewed expansion in the manufacturing sector, but tariff exposure and limited price pass-through could constrain how much of that growth reaches the bottom line. Hiring plans indicate firms are preparing for increased output.
The fourth-quarter Manufacturing Pulse Survey of 342 facilities found 46% of respondents expect 5% to 10% revenue growth next year and 20% expect at least 10%. Whether these projections hold depends on tariff costs, which affect 71% of respondents, and the survey does not show how those costs will develop.
The players
Wipfli
Wipfli is a national accounting and consulting firm that publishes the Manufacturing Pulse Survey tracking industry sentiment and financial expectations.
The details
Respondents were asked about revenue expectations, hiring plans, tariff exposure, and price pass-through. Seventy percent of manufacturers said they expect to hire workers to fill openings or support growth, while 52% are becoming more selective about the business opportunities they pursue.
Timeline
Fourth quarter 2026: Manufacturing Pulse Survey conducted
2026: Manufacturers reported price pass-through results for the year
2027: Manufacturers expect revenue growth and hiring
Market Dynamics
The survey shows manufacturers facing Section 232 tariffs with limited ability to pass costs to customers, as only 29% fully passed through requested price increases in 2026. That gap between tariff exposure and price recovery shapes how much revenue growth can convert into profit across the sector.
Manufacturers' hiring plans could widen job opportunities on factory floors and in related supply roles over the coming year. Tariff-driven cost pressure that limits price increases may also keep product prices from rising as quickly as input costs.
The takeaway
Manufacturers planning for growth are weighing hiring against tariff costs and limited price pass-through, so cost control and productivity gains will likely determine which firms convert optimism into results.
Further reading
For broader measures of sector health, see Economic Indicators coverage across the United States.
Source note: This article includes information reported by Assembly Magazine.
Live Poll
Do you expect prices for everyday goods to rise over the next year?
