Summary
This report presents the findings of the NAM Manufacturers' Outlook Survey conducted from May 8 to May 27, 2025, which gathered responses from 299 manufacturers. The survey indicates a significant drop in manufacturing sentiment, with 55.4% of respondents expressing a positive outlook for their companies, a decrease of 14.3 percentage points from the previous quarter. Trade uncertainties and rising input costs are identified as the primary business challenges, affecting 77.0% and 66.1% of manufacturers, respectively. The report details expected growth rates for sales, production, employment, wages, capital investments, and exports over the next 12 months, highlighting a general decline in growth expectations compared to the previous quarter. Additionally, the impact of tariffs on business operations is documented, with 89.0% of manufacturers reporting increased costs due to tariffs. The survey also emphasizes the urgency for Congress to act on tax policies to support manufacturers amidst ongoing trade uncertainties.
