NAM Manufacturers' Outlook Survey Q2 2024

This report presents the findings of the NAM Manufacturers' Outlook Survey conducted for the second quarter of 2024, which took place from May 14 to June 3. The survey received 217 responses, revealing that 71.9% of manufacturers expressed a positive outlook for their companies, a slight increase from 68.7% in the previous quarter. The NAM Manufacturing Outlook Index rose to 48.0, indicating a modest improvement. Key challenges identified include workforce issues, with over 67% of respondents citing difficulties in attracting and retaining employees. Additionally, 94% of respondents urged Congress to prevent tax increases that could adversely affect capital investments and job creation. The report also highlights concerns regarding rising healthcare costs and the complexity of the permitting process, which respondents believe hinders investment decisions. Furthermore, the survey indicates expectations for growth in sales, production, and employment over the next 12 months, although the anticipated rates are modest.