Survey: Manufacturers Cautious On U.S. Economy

Despite a positive economic outlook, manufacturers recently surveyed by the National Assn. of Manufacturers (NAM), Washington, D.C., report taking a cautious approach to 2000. More than half of the 2,500 U.S. manufacturers surveyed predict economic growth of 2.5% or below this year; one in three anticipates inflation above 2.5%; and two-thirds see no acceleration in wages, indicating inflation worries center largely on rising energy costs. NAM president Jerry Jasinowski says guardedness on the part of his members is related to depression of manufacturing equities in the stock market. "Still," Jasinowski says in a release, "manufacturers remain confident in the overall strength of the economy and their ability to overcome hurdles to growth, such as inflated energy prices."