2024 Second Quarter Manufacturers’ Outlook Survey

Manufacturers’ Outlook Survey: Second Quarter 2024

The National Association of Manufacturers Q2 2024 Manufacturers’ Outlook Survey highlights the immediate need for Congress to take action to prevent tax increases that will limit the industry’s ability to create jobs, support their communities and compete in the global economy.

The NAM conducted the survey from May 14 to June 3, 2024.

Key Findings:

  • If Congress does not act to prevent tax increases, survey respondents say that increased taxes will limit capital investment opportunities (73.0%), decrease job creation (65.4%), increase difficulty competing globally (52.6%) and reduce R&D spending (51.7%).
  • Nearly 94% of respondents agree that Congress should act before the end of 2025 to prevent scheduled tax increases on manufacturers.
  • In Q2, 71.9% of respondents felt either somewhat or very positive about their company’s outlook, the seventh straight reading below the moving average (74.8%).
  • More than 67% of manufacturers cited the inability to attract and retain employees as their top primary challenge, followed by rising health care costs (66.7%), an unfavorable business climate (59.6%) and a weaker domestic economy (56.8%).

NAM Manufacturers’ Outlook Survey: Second Quarter 2024