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Manufacturers bullish on the future

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Manufacturers bullish on the future

NAM/Industry Week survey reflects optimism.

According to the latest National Association of Manufacturers/IndustryWeek Survey of Manufacturers, manufacturers are bullish about the future, projecting both the largest increase in capital spending as well as the largest uptick in expected sales in more than two years,.

This optimism is counterbalanced with the survey results showing palpable frustration with the direction of the country as well as concerns over regulatory, tax and health care policies coming from Washington. Key survey findings include the following:

“Manufacturing in America is making a comeback both in output and outlook.”

  • Manufacturers plan to increase their capital investment by 2.3% over the next 12 months, the highest figure in more than two years.
  • Manufacturers expect sales to increase 4.1% over the next 12 months, the highest figure in more than two years.
  • 72.7% of respondents cite rising health care and insurance costs as a primary business challenge.
  • 71.4% of respondents cite taxes, regulations and government uncertainties as a primary business challenge.
  • 79.3% of respondents said that the country was on the “wrong track.”

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“Manufacturing in America is making a comeback both in output and outlook,” said NAM Chief Economist Chad Moutray. “However, manufacturers’ optimism is quickly tampered by frustrations with the political process and concerns over Washington’s burdensome regulatory, tax and health care policies. These frustrations consistently loom large with manufacturers and are often the driver behind decisions to continue growth and investment.”

 

 

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