Fewer manufacturers are upbeat today about their company’s outlook than six months ago, reports the National Association of Manufacturers (NAM).
According to a NAM survey of manufacturers, 76.3 percent of manufacturers say they have a positive outlook about their company. Six months ago, 91.2 percent reported having a positive outlook about their company.
The 76.3 percent mark represents the lowest percentage of manufacturers who’ve expressed a positive outlook to NAM since the third quarter of 2013.
In addition, a new index – the NAM Manufacturing Outlook Index – fell from 10 points from 61.7 to 51.7 over the same period. According to Chad Moutray, NAM’s chief economist, the drop reflects the notion that manufacturers continue to have above-average assessments about growth but with some “definite deterioration in sentiment.”
“Growth estimates for sales, capital spending and hiring have slipped significantly since the last survey,” Moutray says. “For instance, manufacturers predict sales growth of 2.7 percent over the next 12 months, down from the 4.3 percent estimate in March.”
