Manufacturers: Action Needed to Restart Economy

07/27/12 -  Washington, D.C., July 27, 2012 – National Association of Manufacturers (NAM) President and CEO Jay Timmons issued the following statement on the disappointing second quarter GDP report:

“Today’s report is a wake-up call. Manufacturing, which has been the bright spot of our economy, is stalling because of the uncertainty created from a lack of action from Washington. Growth of only 1.5 percent will not support the job creation we need to drive our economy, and it is clear—both from today’s GDP data as well as other economic indicators—that manufacturing activity is struggling. With manufacturers having an outsized role in output and employment over the past two years, this is a disturbing sign.

The countless regulations piled on top of the looming fiscal abyss at the end of the year are taking a toll on growth. Manufacturers need certainty. They are planning for the future now and don’t have the luxury to wait until the end of the year. It’s time for Congress and the Administration to get serious and take action now to shore up our fiscal house so we can restart economic growth and create jobs.”