#692 – Latest NAM Manufacturers’ Outlook Survey Very Positive

Posted on | The Agurban

Latest NAM Manufacturers’ Outlook Survey Very Positive

The 2018 Second Quarter Manufacturers’ Outlook Survey by NAM (National Association of Manufacturers) reported that manufacturer optimism is at an all time high. Below are some key take-aways from the survey.

  • 1% of respondents registered a positive outlook for their company, the highest level recorded in the survey’s 20-year history
  • Manufacturers are projecting historic growth in investments (4.1%), hiring (3.1%), and wages (2.7%)
  • Tax reform is enabling manufacturers to invest more in U.S. manufacturing, equipment, and facilities
    • 86% of manufacturers plan to increase investments
    • 77% plan to increase hiring
    • 72% plan to increase wages or benefits for their workers
    • 115,000 manufacturing jobs have been created since tax reform went into effect in 2018, nearly double the 63,000 created over the same period last year

Clearly, manufacturers continue to be upbeat following Washington’s passage of the comprehensive tax cuts package and other pro-growth stances that will help manufacturers compete in the global marketplace.