President Donald Trump touted a new survey released by the National Association of Manufacturers (NAM) that shows 93 percent of manufacturers feel positive about their economic outlook.
The president highlighted the survey results during a Friday morning meeting at the White House with NAM and a group of small and middle-sized manufacturers from around the country.
“It’s a new surge in optimism which is sweeping all across our land,” the president said after reporting the survey results to the table and onlooking media.
The 93 percent of manufacturers feeling optimistic about their economic outlook represents an all-time high in the survey’s 20-year history, and is up from 56.6 percent one year ago.
The survey also revealed concerns about the business environment have dropped. When asked to identify top challenges to their business, concerns about business regulations and taxes dropped to third place, down from the top concern in 2011.
Rising health care and insurance costs are now the top concern for manufacturers, while attracting and retaining a quality work force is second.
Numerous manufacturing companies commented that “uncertainty” in the government and regulatory environment was a concern of theirs.
“These survey results are a further vote of confidence in our plan to bring back jobs, lower taxes and provide a level playing field for our workers,” Trump said.
The number of manufacturers who believe the country’s economy is on the right track increased dramatically since Trump assumed office, according to the president and CEO of NAM, Jay Timmons.
“Just the month before Inauguration day, the right-track number was only 26 percent, today it’s over 60 percent,” Timmons explained to Trump Friday.
“That’s because of the focus on taxes, regulations, infrastructure investment. We appreciate your commitment to investment and job creation and manufacturing and we’re going to deliver,” Timmons told the president.
Eighty-three percent of the respondents said they expect their sales to increase over the course of the next year, with 16.3 percent of manufacturers expecting to see double-digit increases in sales over the next year.
You can read the full survey results here.
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