Political Climate Has Manufacturers Down
Subscribe today for Free Enterprise Updates
- Latest business trends and best practices
- News about legislation and regulation impacting business
- Business how-to articles from industry experts
- Commentary and interviews with newsmakers in business and politics
U.S. manufacturers have actually become less optimistic, according to a new survey.
The National Association of Manufacturers released its' 3rd Quarter NAM/IndustryWeek Survey of Manufacturers, which revealed that optimism among manufacturers declined for the second consecutive quarter. In fact, the percentage of respondents who were "somewhat negative" nearly doubled from 15.8% in the second quarter to 29.6% in the third quarter.
The top concern for manufacturers was uncertainty related to the political climate, cited by 78.7% of respondents. This was followed by rising healthcare costs (69.4%), an unfavorable tax and regulatory environment (62.4%), and slowing sales and a weak domestic economy (60.7%).
“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.”