Americans appear to be more optimistic about growth in recent months, and manufacturers are no exception. New results from the NAM Manufacturers’ Outlook survey show manufacturers’ optimism rose to a new all-time high in the survey’s nearly 20-year history.
In this latest NAM Manufacturers’ Outlook survey, 93.3 percent of manufacturers are either somewhat or very positive about their own company’s outlook, up from 56.6 percent one year ago and 77.8 percent in December (Figure 1). As a result, the NAM Manufacturers’ Outlook Index also soared to a new high, up from 53.1 in December to 63.7 in this report (Figure 2). It was the second straight quarter where the outlook exceeded its historic average – which would equate to 50 in the index – and there were strong gains in confidence for all firm sizes.
“As the survey shows, manufacturers of all sizes are now less concerned about the business climate going forward because they are counting on President Trump to deliver results. Small manufacturers—more than 90 percent of our membership—are among the hardest hit by regulatory obstacles.”
Manufacturers’ Agenda is a Priority
“Regulatory costs for small manufacturers with fewer than 50 employees total almost $35,000 per employee per year—money that could otherwise go to creating jobs. It’s encouraging to see an administration so focused on providing regulatory relief to spur manufacturing growth.”