NAM Manufacturers’ Outlook Survey: Third Quarter 2019
In 2018, manufacturers’ optimism reached an all-time high, according to the NAM’s Manufacturers’ Outlook Survey. For the second consecutive quarter in 2019, the survey shows a significant drop in manufacturers’ optimism amid uncertainties, softening global economy and worsening workforce shortage. A positive outlook for their business was registered by 67.9% of manufacturers.
For the eighth consecutive quarter, the inability to attract and retain a quality workforce remained manufacturers’ top business concern. The survey also found that trade uncertainties among manufacturers rose.
Manufacturers across the country are telling us nothing concerns them more than the workforce crisis. This quarter’s survey also provides more evidence that a slowing global economy and uncertainties have manufacturers on edge. If we get the USMCA passed, the trade war with China turned into a trade agreement with China and the Export-Import Bank reauthorized, manufacturers will be able to hire even more workers and grow our operations with more certainty.”
NAM President and CEO Jay Timmons
