NAM and Industry Week Q3 Manufacturing Survey shows manufacturing still in positive territory but the much weaker economy is causing much weaker sentiment looking ahead.
Three takeaways:
- Current outlook– Manufacturers optimism has declined from 86.4% of respondents either very or somewhat positive in their business outlook in the June survey, only 65.4% said the same in the third quarter — a drop of over 20 percentage points.
- Economy is top concern –Nearly 65% of manufacturers surveyed said that a weaker domestic economy was hurting their sales.
- Regulatory issues are real drag on growth– Almost 61% said that an unfavorable business climate was one of the biggest
challenges right now, and nearly 80% felt that government involvement was impeding their ability to grow their operations.
You can see the more results on Industry Week site here.