NAM Manufacturers' Outlook Survey Q3 2024

This document is the NAM Manufacturers' Outlook Survey for the third quarter of 2024, conducted from September 5 to 20, 2024. The survey collected responses from 294 manufacturers, revealing a decline in positive sentiment regarding their business outlook, with only 62.9% expressing a somewhat or very positive outlook, down from 71.9% in the previous quarter. The NAM Manufacturing Outlook Index also decreased to 41.9, indicating a weaker sentiment compared to the previous quarter. Key concerns identified include a weaker domestic economy, rising healthcare costs, and an unfavorable business climate. The survey indicates expected growth rates for sales, production, and employment over the next 12 months, with modest increases projected. Additionally, manufacturers expressed significant concern over potential tax increases and the need for congressional action to address healthcare costs. The survey findings highlight the challenges and expectations faced by manufacturers in the current economic climate.