NAM Survey Finds Manufacturing Optimism Skyrocketing

A recent National Association of Manufacturers (NAM) study shows many key indicators for the manufacturing sector’s economic health are “at record highs following enactment of the Tax Cuts and Jobs Act” late in 2017.

“Empowered by tax reform and regulatory relief, manufacturers are now investing in our people through new jobs, higher wages, bonuses and growing our operations right here in the United States,” said NAM President and CEO Jay Timmons. “We’re delivering on our promises—despite what the doubters, deniers and detractors said.”

Timmons also said that to “keep this momentum going, to take us to the next level, manufacturers now want to see action on infrastructure, further regulatory relief and more opportunities to sell our products overseas.”

He added: “Manufacturers are proving that when the President and lawmakers deliver on policy, we will deliver for the American people.”

Here are some key takeaways from the survey:

  • “Optimism among manufacturers registered its second-highest level ever recorded (93.5 percent) in the 20-year history of the survey;”
  • “Optimism among small manufacturers registered its highest level ever recorded (94.5 percent) in the 20-year history of the survey;”
  • “All-time highs for projected employment growth, capital spending and inventories;”
  • “Projected wage growth registered its fastest pace in 17 years; and”
  • “Projected sales growth registered its second-highest reading in the 20-year history of the survey.”

NAM also notes that the release of their survey results “coincided with a tax reform event in the Rose Garden of the White House, where President Donald Trump touted the new data showing manufacturers’ positive economic outlook.”