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A GROWTH AGENDA: Four Goals for a Manufacturing Resurgence in America

This strategy is a blueprint for competitiveness that will unleash the economy and manufacturing’s outsized multiplier effect. Importantly, manufacturers’ aspirations—the four goals laid out in the pages that follow—are ones that all Americans who want to maintain our country’s economic advantage can rally around.

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Manufacturing Optimism Continues to Decline Due to Increasing Uncertainty

New Survey Shows Concerns About Political Uncertainty, Rising Healthcare Costs and the Unfavorable Business Climate

09/12/12 - Sentiment among manufacturers, according to a new survey, shows a decline in optimism for a second consecutive quarter. The latest National Association of Manufacturers (NAM)/IndustryWeek Survey of Manufacturers is a signal that the compounding effects of Washington’s inaction and the slowing global economy means uncertainty for the future of business across the country.

78.7 percent of manufacturers surveyed cited that the uncertainty related to the political climate, such as the looming fiscal abyss and pending budget cuts, was the top challenge for their businesses.
69.4 percent of manufacturers identified rising healthcare and insurance costs as their second-most important challenge.
62.4 percent identified the unfavorable business climate, resulting from taxes and regulations, as another primary concern.
The percentage of respondents who were “somewhat negative” nearly doubled from 15.8 percent in the second quarter to 29.6 percent in the third quarter.
The number of respondents who view their business outlook as “somewhat positive” or “very positive” dropped below 70 percent for the first time since the third quarter of 2011.

“Manufacturers are sending a clear message that Washington’s action or inaction can have a serious effect on our economy,” said NAM Chief Economist Chad Moutray. “The Congressional Budget Office has already warned that falling into the fiscal abyss will mean a recession next year, and manufacturers are not optimistic that Washington will be able to set us back on track in time. Unless Washington takes bold action to address the economic and political uncertainty and puts in place a pro-growth business climate, we can expect to see more dismal economic growth and pessimism from manufacturers.”

The NAM/IndustryWeek Survey of Manufacturers was conducted among 514 manufacturers in a variety of industries and of various sizes. Click here for the full survey results.

The NAM has laid out policies to keep manufacturing competitive in A Manufacturing Renaissance: Four Goals for Economic Growth.