The National Association of Manufacturers (NAM) has released the results of the Manufacturers Outlook Survey for the second quarter of 2018, which reveal that 95.1 percent of manufacturers have a positive outlook for their companies. This is an all-time record in the surveys 20-year history.
The release of the survey results coincided with the six-month anniversary of tax reform, and follows a May survey that shows manufacturers are increasing wages, hiring, and capital investments in the wake of tax reform. Highlights from the Q2 survey include:
- Optimism among manufacturers registered its highest level ever recorded (95.1 percent) in the 20-year history of the survey;
- Optimism among medium-sized manufacturers registered its highest level ever recorded (95.8 percent) in the 20-year history of the survey;
- All-time highs for projected employment growth and capital spending;
- Projected wage growth registered its fastest pace in 17 years; and
- Projected sales growth kept pace at its second-highest reading in survey history.
Conducted by NAM Chief Economist Chad Moutray, the Manufacturers Outlook Survey has surveyed the associations membership of 14,000 large and small manufacturers on a quarterly basis for the past 20 years to gain insight into their economic outlook, hiring and investment decisions and business concerns.
Image courtesy of University of Connecticut