The Washington Examiner’s, Paul Bedard, reports on the growing optimism in our economy and how manufacturers are re-investing in our communities:
The nation’s top manufacturers have for the ninth consecutive quarter given the Trump economy a thumbs up, setting record industry optimism of the economy and predicting positive growth unseen during the Obama administration.
The National Association of Manufacturers said big and small companies are overwhelmingly optimistic about future growth.
In fact, the past nine quarters of have seen record optimism, with an average of 91.8 percent of manufacturers positive about their own firm, compared to an average of 68.6 percent during the last two years of the Obama administration.
Under Trump, the economy has spiked and the president has made moves to boost manufacturing such as slashing Obama-era regulations. Tax cuts have also boosted their confidence in a better future, said NAM.
The survey said that 89 percent of manufacturers have a positive outlook for their companies.
And 4.4 percent expect growth in their industries.
The survey was released on the day Vice President Mike Pence plans to address NAM’s 2019 Spring Board of Directors Meeting in Scottsdale, Arizona.
“Clearly, manufacturers remain very optimistic about business conditions overall. This is driven in no small part by the boost in confidence experienced since the end of 2016 with the expectation (and later, impact) of pro-growth federal policies like tax reform and regulatory certainty. Tax reform in particular helped many manufacturers invest more in hiring, compensation and their communities,” said the survey analysis.
“Manufacturers continued to report solid growth in activity this quarter, with the sector remaining one of the brightest spots in the economy and hitting nine consecutive quarters of record optimism,” it added.
The poll also showed support for restoring the nation’s “crumbling infrastructure” and helping industry retain quality workers.
“Manufacturing in the United States is on the rise, and manufacturers are confident about the future,” said NAM President and CEO Jay Timmons. “Empowered by tax reform and regulatory certainty, manufacturers are investing in our communities and in our people. But to keep up this momentum, we have to get serious about infrastructure investment and attracting, recruiting and training our people for the high-tech, high-paying modern manufacturing jobs of today and tomorrow,” he added.
- Washington Examiner
- Paul Bedard