NAM Survey Sees Positive Signs for Manufacturing

Washington, DC, June 15, 2011 -- Last week’s series of economic indicators tended to stress the positive regarding future growth in manufacturing, according to Chad Moutray, chief economist for the National Association of Manufacturers.

The latest NAM/IndustryWeek Survey of Manufacturers found that 86.4% of respondents had either a somewhat or very favorable view of the current business climate.

This is the highest in five years, Moutray said, and these same individuals had high expectations for future sales, capital spending, employment, and export growth.

In addition to new hiring, manufacturers expect to see wages go up an average of 1.8% over the next 12 months, with some respondents indicating much higher raises.

International trade is seen as a huge opportunity for future growth in their businesses, with 45% of respondents predicting increases in the level of their exports over the next year.

Those who foresee higher export sales are also significantly more positive in their view of the current business climate than those who do not.

The survey also showed that the state of the economy is the manufacturing sector's top concern (28.5%), followed closely by the cost of raw materials (26.4%).