Manufacturers ' survey shows flagging confidence

According to a news release, 57 percent of large and 70 percent of small manufacturing companies who responded to the quarterly NAM survey had a positive business outlook for their firm in the first quarter of 2008, though economic concerns are indicated.

Nearly two-thirds of respondents indicated that current conditions for their companies are better than conditions in 2000–01. Seventeen percent classified current conditions as “similar” and 22 percent said conditions have worsened.

A key finding of the first quarter survey is that a growing number of export-oriented companies are more optimistic.

Of manufacturers that expect at least 25 percent of their company’s sales growth this year to come from exports, 81 percent reported a positive business outlook, compared to 60 percent of businesses that don’t export.

Export-oriented companies also had higher expectations for sales, capital investment and employment.

A total of 202 NAM member companies responded to the survey, which has been conducted every quarter since 1997. Participating companies were asked to quantify their 12-month expectations on sales, prices, capital investment, inventories, employment and wages.