Manufacturers’ optimism hit an all-time high of 95.1%, according to the National Association of Manufacturers '(NAM) 2018 Second Quarter Outlook Survey. The was the highest rating in the group’s 20 years of issuing quarterly reports.
“This record optimism is no accident," said NAM CEO Jay Timmons. "It is fueled by the game-changing tax reform passed six months ago “Last year, manufacturers promised that we would deliver for our people and our communities if tax reform became law.
“Congress and the president delivered, and now manufacturers are keeping our promise: hiring new workers, raising wages, improving benefits, buying equipment and expanding right here in the United States. And the best part is, with manufacturers’ record-setting confidence and plans to keep hiring and growing, more good news is yet to come.”
The release of the survey results coincided with the six-month anniversary of tax reform and follows a May survey that shows manufacturers are increasing wages, hiring, and capital investments in the wake of tax reform.
Highlights from the Q2 survey include:
- Optimism among medium-sized manufacturers registered its highest level ever recorded (95.8%) in the 20-year history of the survey;
- All-time highs for projected employment growth and capital spending;
- Projected wage growth registered its fastest pace in 17 years; and
- Projected sales growth kept pace at its second-highest reading in survey history.