Economic Data and Growth

Washington, D.C. – The National Association of Manufacturers released its Manufacturers’ Outlook Survey for the third quarter of 2022, which shows mixed results around a challenging economic environment, inflation, supply chains and the workforce. The NAM conducted the survey Aug. 16–30, 2022.

“Three out of four manufacturers still have a positive outlook for their businesses, but optimism has certainly declined. The majority of respondents are expecting a recession this year or next, and it’s clear the challenging environment is taking its toll. Manufacturers have shown incredible resilience through multiple crises, but the challenges of inflation, supply chain strains and the workforce shortage are taking a toll,” said NAM President and CEO Jay Timmons.

Key Findings:

• 78.3% of manufacturing leaders listed supply chain disruptions as a primary business challenge with only 10.8% believing improvement will occur by the end of the year.
• Attracting and retaining a quality workforce (76.1%), increased raw material costs (76.1%) and transportation and logistics costs (65.9%) were not far behind supply chain challenges as the biggest problems faced by manufacturers.
• More than three-quarters of manufacturers felt that rising material costs were a top business challenge (tied with workforce challenges and slightly below supply chain worries), and 40.4% said that inflationary pressures were worse today than six months ago. In addition, 53.7% noting that higher prices were making it harder to compete and remain profitable.
• The top sources of inflation were increased raw material prices (95.2%), freight and transportation costs (85.4%), wages and salaries (81.7%), energy costs (54.4%) and health care and other benefits costs (49.0%), with 21% also citing the war in Ukraine and global instability.
• When asked about what aspects of the CHIPS and Science Act were most important for supporting manufacturing activity, 69.6% of respondents cited strengthening U.S. leadership in energy innovation and competitiveness.

“This is a clear indication that we need urgent action to beat back the macroeconomic problems that are causing headwinds and preventing manufacturers in the U.S. from their full potential. Our ‘Competing to Win’ agenda gives policymakers the roadmap for solutions manufacturers need now to make our industry more globally competitive and, in turn, to boost optimism and confidence.

“Federal policies alone won’t solve everything, which is why we will continue to be part of the solution—innovating ways to deliver for our customers and spearheading efforts like the NAM and The Manufacturing Institute’s Creators Wanted workforce campaign.”

Due to the consistent economic headwinds, manufacturers’ confidence has declined, with 75.6% of respondents having a positive outlook for their company, the lowest since Q4 2020.

Conducted by NAM Chief Economist Chad Moutray, the Manufacturers’ Outlook Survey has surveyed the association’s membership of 14,000 manufacturers of all sizes on a quarterly basis for the past 20 years to gain insight into their economic outlook, hiring and investment decisions and business concerns.

The NAM releases these results to the public each quarter. Further information on the survey is available here. Click here for more on “Competing to Win.”

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The National Association of Manufacturers is the largest manufacturing association in the United States, representing small and large manufacturers in every industrial sector and in all 50 states. Manufacturing employs more than 12.8 million men and women, contributes $2.77 trillion to the U.S. economy annually and accounts for 58% of private-sector research and development. The NAM is the powerful voice of the manufacturing community and the leading advocate for a policy agenda that helps manufacturers compete in the global economy and create jobs across the United States. For more information about the NAM or to follow us on Twitter and Facebook, please visit www.nam.org.

Washington, D.C. – The National Association of Manufacturers released its Q2 2022 Manufacturers’ Outlook Survey, which shows manufacturers’ significant concerns around recession, inflation, hiring and China competition legislation. The NAM conducted the survey May 17–31, 2022.

“Through multiple crises, manufacturers have proven remarkably resilient, but there’s no mistaking there are darker clouds on the horizon. A majority of our surveyed members believe inflationary pressures are making a recession more likely within the next year,” said NAM President and CEO Jay Timmons.

“Russia’s war on Ukraine has undeniably exacerbated higher energy and food costs. This, along with record deficit spending since the pandemic began, has created the highest inflation since 1981. But actions here at home can help ease these pressures, including first and foremost harnessing every energy resource available to us domestically and quickly—and refraining from imposing new taxes on manufacturers or families. It also means acting on manufacturers’ solutions to our supply chain challenges and passing the China competition bill—or Bipartisan Innovation Act. Though it won’t solve every issue, this will give us many of the tools needed to ramp up domestic manufacturing and strengthen our supply chains. That’s why 88% of manufacturers in our survey see it as an important piece of legislation—and Congress needs to move swiftly to get it to President Biden’s desk.”

Key Findings:

• In the survey, 59.3% of manufacturing leaders believed inflationary pressures would make a recession more likely in the next 12 months.
• Increased raw material costs topped the list of primary business challenges in the second quarter, cited by 90.1% of respondents.
• Three-quarters of manufacturers felt inflationary pressures were worse today than six months ago, with 53.7% noting that higher prices were making it harder to compete and remain profitable.
• The top sources of inflation were increased raw material prices (97.2%), freight and transportation costs (83.9%), wages and salaries (79.5%) and energy costs (55.9%), with 49.4% also citing a shortage of available workers.
• When asked about what aspects of the China competition legislation were most important for supporting manufacturing activity, 70.9% of respondents cited addressing port congestion and competition issues in ocean shipping.

Despite ongoing economic headwinds, manufacturers remain largely optimistic, with 82.6% of respondents maintaining a positive outlook for their company.

-NAM-

The National Association of Manufacturers is the largest manufacturing association in the United States, representing small and large manufacturers in every industrial sector and in all 50 states. Manufacturing employs more than 12.7 million men and women, contributes $2.71 trillion to the U.S. economy annually and accounts for 58% of private-sector research and development. The NAM is the powerful voice of the manufacturing community and the leading advocate for a policy agenda that helps manufacturers compete in the global economy and create jobs across the United States. For more information about the NAM or to follow us on Twitter and Facebook, please visit www.nam.org.

The U.S. Securities and Exchange Commission has released a rule that would require public companies to make disclosures about their greenhouse gas emissions, climate-related financial metrics and climate-related risks.

The background: Since the early days of the Biden administration, the SEC has said that investors need “consistent, comparable and decision-useful information” about public companies’ climate-related risks. SEC Commissioner Allison Lee, a longtime champion of climate disclosures, called yesterday’s announcement “a watershed moment for investors and financial markets.”

The rule: The proposed rule would institute a wide range of new climate disclosure obligations for publicly traded companies.

• GHG reporting: All companies would be required to report Scope 1 and Scope 2 greenhouse gas emissions—those generated directly by a company’s operations or indirectly by a company’s energy usage. If “material” to investors, companies would also have to report their Scope 3 emissions—those resulting from upstream and downstream activities in their value chain.
• Financial metrics: Companies would be required to analyze climate impacts on their existing financial statement line items (like revenues, cash flow and capital expenses).
• Climate risk disclosures: This set of disclosures involves companies’ assessment of their “physical risks” (like fires and floods) and “transition risks” (like climate regulations or new green business models) related to climate change. Businesses would have to evaluate these risks and then disclose their potential impact as well as what steps the company is taking to mitigate them.
• Targets and goals: Many companies set public goals related to greenhouse gas emissions, water usage and the like. Under the SEC’s rule, companies would have to report information on how these goals are set, tracked and accomplished.

The SEC hopes to finalize its proposed rule by the end of this year, which means the largest companies would have to comply as of their FY2023 filings (submitted in early 2024).

Our action: Protecting manufacturers and their shareholders as the SEC works to mandate climate disclosures is a top NAM priority. NAM members can learn more about the SEC’s climate rule during our March 29 webinar, which you can register for here. We will be providing comment on the SEC’s proposal, and manufacturers are encouraged to share their feedback with NAM Senior Director of Tax and Domestic Economic Policy Charles Crain.

The last word: “Manufacturers support key disclosures related to publicly traded companies’ climate strategies, as this information can help shareholders make informed decisions,” said NAM President and CEO Jay Timmons.

“However, broad, sweeping disclosures could be counterproductive—requiring manufacturers to waste time and resources reporting irrelevant information that will not be decision-useful for shareholders. The SEC should focus on requiring disclosure of material information, and the NAM looks forward to working with the SEC to ensure that its proposed climate reporting rule enables smart, company-specific disclosures that are tailored and targeted.”

Washington, D.C. – The National Association of Manufacturers released its Q1 2022 Manufacturers’ Outlook Survey, which shows manufacturers’ significant concerns around inflation, hiring and potential tax increases. The NAM conducted the survey Feb. 11–25, 2022.

Key Findings:

• 88.1% of respondents cited supply chain challenges as a primary business challenge in the first quarter, 85.7% cited increased raw material costs, and 79.0% cited the inability to attract and retain a quality workforce.
• 88.6% of respondents said their company would find it more difficult to expand their workforce, invest in new equipment or expand facilities if the tax burden on income from manufacturing activities increased.
• 89.4% had unfilled positions within their companies for which they were struggling to find qualified applicants.

“The humanitarian crisis and economic disruptions of Russia’s war on Ukraine, as well as the resulting sanctions that manufacturers fully support, will exacerbate these supply chain challenges and could impact energy costs even more as we move into the second quarter. We’re looking to policymakers to take bold action, while manufacturers do everything in our power to help the nation and world persevere through another crisis,” said NAM President and CEO Jay Timmons.

“Federal leaders should give energy manufacturers the tools to ramp up production here at home and improve our energy security. At the same time, we need Congress to finish the China competition bill to increase domestic semiconductor production and bolster supply chains, among other manufacturing priorities. Any discussion of raising taxes on manufacturers will create uncertainty and make it difficult to invest, hire and expand, hurting the broader economy.

“Although job growth last year rose at the best pace since 1994, and wage growth is now at a 40-year high, the survey shows workforce shortages are still a major challenge. That’s why the NAM and The Manufacturing Institute continue leading our industry-wide Creators Wanted campaign—to inspire, educate and empower the manufacturing workforce of today and tomorrow.”

While manufacturers remain mostly optimistic in their economic outlook (88.8%, up from 86.8% in Q4), the survey was conducted prior to the Russian invasion of Ukraine.

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The National Association of Manufacturers is the largest manufacturing association in the United States, representing small and large manufacturers in every industrial sector and in all 50 states. Manufacturing employs more than 12.5 million men and women, contributes $2.57 trillion to the U.S. economy annually and has the largest economic multiplier of any major sector and accounts for 58% of private-sector research and development. The NAM is the powerful voice of the manufacturing community and the leading advocate for a policy agenda that helps manufacturers compete in the global economy and create jobs across the United States. For more information about the NAM or to follow us on Twitter and Facebook, please visit www.nam.org.

Washington, D.C. – The National Association of Manufacturers released its Manufacturers’ Outlook Survey for the fourth quarter of 2021, showing manufacturers remain mostly optimistic in their economic outlook (86.8%, down from 87.5% in Q3) but are significantly concerned with issues like inflation, hiring and potential tax increases targeting manufacturers.

“Manufacturers are working overtime to fill more than 1 million open jobs, including through our nationwide Creators Wanted workforce campaign,” said NAM President and CEO Jay Timmons. “On top of that, we’re grappling with a supply chain crisis. Despite the challenges confronting us, manufacturers remain bullish on the future. But if Congress passes legislation with taxes that hit manufacturers harder than other industries, our entire recovery will be thrown off course. If new taxes land on our shoulders, it will undo all the progress we’ve made since the 2017 tax reform law.”

“Manufacturers have kept our promise to hire more workers, raise wages and benefits and invest in our communities. Our question to Congress—the message of this survey—is, do we want to weaken our recovery by undermining manufacturers’ competitiveness? Raising taxes on manufacturers will not help us build back better. It will tear down what we’ve achieved.”

Key survey highlights:

• Top issues:
  • Increased raw material costs (87.1%), the number-one issue for the fourth straight quarter
  • Supply chain challenges (84.5%)
  • Attracting and retaining a quality workforce (82.7%)

• 87.8% of respondents said an increased tax burden on income from manufacturing activities would make it more difficult to expand their workforce, invest in new equipment or expand their facilities
• 85.2% said they have open positions they cannot fill.
• 73.6% of respondents said supply chain bottlenecks negatively impacted their company’s outlook for production, hiring and overall business activity.

Read the full Q4 2021 Manufacturers’ Outlook Survey results here.

Background on manufacturing growth following the enactment of 2017 tax reform:

• In 2018, manufacturers added 263,000 new jobs. That was the best year for job creation in manufacturing in 21 years.
• In 2018, manufacturing wages increased 3% and continued going up—by 2.8% in 2019 and 3% in 2020. Those were the fastest rates of annual growth since 2003.
• Manufacturing capital spending grew 4.5% and 5.7% in 2018 and 2019, respectively.
• Overall, manufacturing production grew 2.7% in 2018, with December 2018 being the best month for manufacturing output since May 2008.

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The National Association of Manufacturers is the largest manufacturing association in the United States, representing small and large manufacturers in every industrial sector and in all 50 states. Manufacturing employs more than 12.5 million men and women, contributes $2.52 trillion to the U.S. economy annually and has the largest economic multiplier of any major sector and accounts for 58% of private-sector research and development. The NAM is the powerful voice of the manufacturing community and the leading advocate for a policy agenda that helps manufacturers compete in the global economy and create jobs across the United States. For more information about the NAM or to follow us on Twitter and Facebook, please visit www.nam.org.

For Big Ass Fans, a Kentucky-based company that manufactures fans, evaporative coolers and controls for industrial, agricultural, commercial and residential use, the eye-catching name isn’t the only thing that makes them distinctive. The company is also a leader in research and development, crediting U.S. tax policy with supporting its innovations and the jobs they create.

Investing in innovation: BAF has spent millions of dollars in R&D, even building an R&D lab on its global headquarters campus in 2008. Most recently, it pioneered new ways of disinfecting air to keep manufacturing employees healthy during the COVID-19 pandemic. And when Congress approved tax reform in 2017—including a lower corporate tax rate—the company got additional fuel for its efforts.

• “The more incentives that are there for us to create and for our customers to purchase, the more we can deliver for everyone,” said BAF Government and Public Relations Director Alex Risen.

Risen cautions, however, that a higher corporate tax rate could impact the company’s ability to grow. Meanwhile, a prospective tax change on R&D spending could stymie innovation by requiring the amortization of expenses (as opposed to current tax policy, which allows expenses to be fully deducted in the same year).

• “We’re always going to innovate. That’s in our DNA. But if our customers have higher corporate tax rates, that can take money out of our pockets and theirs,” said Risen. “If this new R&D tax policy detracts from a company’s ability to push and pioneer…then we’re all at risk of losing out on expedited innovation.”

Creating American jobs: BAF isn’t just using its revenues to invest in innovation; it’s also working to bring jobs and supply chains into the United States. In addition to its headquarters in Lexington, Kentucky, the company has offices in Canada, Australia and Singapore. Up until recently, it also had a manufacturing facility in Malaysia in addition to a sales office there—but BAF is in the process of moving those production jobs to the United States.

• “It doesn’t just mean new jobs at BAF; it brings more business to American vendors and suppliers,” said Risen. “It allows them to continue trying to grow even during a downturn and uncertain times.”

Bolstering supply chains: In addition to job creation, strengthening the supply chain was another top priority for BAF.

• “We were already working on moving those operations before the pandemic hit, but the pandemic is a reminder that you want to have that supply chain close,” said Risen. “We’ve been fortunate that we haven’t had to slow production down, because the majority of our product is here in our backyard. That speaks to where we want to be as a company that is internationally headquartered in the U.S. but serves 175 countries. We want to do our part in order to make high-end machinery a U.S. export.”

NAM support: To support companies like BAF and its customers, the NAM is leading the effort to ensure that the tax code keeps encouraging innovation. Recently, a bipartisan group of U.S. policymakers introduced legislation that would allow manufacturers to continue to deduct their R&D expenses immediately—a move that the NAM advocated for. The NAM is also working to strengthen U.S. supply chains, releasing an agenda for such actions last year.

The bottom line: “A high tide floats all boats,” said Risen. “We need to continue to innovate and deliver for companies in America—and we need to help Americans push the envelope, innovate and deliver for all of us.”

Manufacturing is a key driver of the American economy—but how does manufacturing in the United States stack up against the rest of the world?

Recently, The Manufacturing Institute and KPMG—a professional services firms providing innovative business solutions and audit, tax, and advisory services—released a new assessment of the cost of doing business in the manufacturing sector for the United States and 16 other major manufacturing exporting nations around the globe.

High costs, but high value: The study found that primary costs (compensation, property, utilities, taxes and interest rates) in the U.S. are on average 16% higher than in the other markets—yet the U.S. ranks fairly high on the list overall at #5.

• Another number bears that out: over the past decade, foreign direct investment in U.S. manufacturing has jumped from $569.3 billion in 2006 to a record $1,785.7 billion in 2019.

The benefits of tax reform: Tax reform made the U.S. a more desirable location for manufacturers, the study found. It compared how the U.S. would have ranked with its pre-reform corporate tax rate of 40% (the combined federal and state tax rate) instead of the post-reform corporate rate of 27%. With the old rate, the U.S. would have ranked only 11^th.

The benefits of skilled workers: A major U.S. advantage is its supply of high-skilled workers. According to the study, the U.S. ranks at the top of the list for real value added per employee, along with Ireland and Switzerland. As manufacturing has become increasingly advanced, the need for sophisticated employees keeps growing.

While it’s true that American manufacturing requires more skilled workers, as The Manufacturing Institute has previously shown, the existing workforce is still a big draw due to its productivity.

The bottom line: The United States is an attractive location for manufacturers, despite relatively high costs, because of high worker productivity and the overall business environment.

The last word: “We need to continue to push the envelope of technological innovation and workforce development and recruitment in the manufacturing sector,” said Chad Moutray, chief economist for the National Association of Manufacturers and director of the Center for Manufacturing Research at The Manufacturing Institute. “These efforts will serve to strengthen the sector overall, but also help to maintain the nation’s global competitiveness.”

Here’s some good news: Moderna’s final-stage COVID-19 vaccine test began on Monday, according to The Wall Street Journal (subscription). The company’s researchers intend to conduct a nationwide, 30,000-person trial of its experimental vaccine, with the goal of testing whether two doses of the product can safely protect against COVID-19.

The timeline: Moderna is hoping that, with positive results, a vaccine could be available as early as this fall.

And more good news: Pfizer and German biotech BioNTech have also started their 30,000-person trials, which will extend around the globe. Their timeline? To get the vaccine into regulatory review by the fall.

So once a vaccine is ready, what happens next? A whole bunch of logistical challenges is what. The Atlantic details some of the complications involved:

• A vaccine probably won’t offer complete protection, though it will prevent severe cases.
• Production will be a challenge, with manufacturers seeking to make hundreds of millions of doses in record time and jockeying for supplies like glass vials.
• Distribution will face major hurdles as federal and state governments are forced to coordinate vaccine delivery.
• One in five Americans say they will refuse to get a vaccine even if it’s available, while nearly a third say they haven’t decided.

And one last PSA: STAT News gives us a heads-up that these vaccines may create some physical discomfort. That may actually be good news—the reaction could be a sign of your immune system going to work—but it’s probably best not to expect an entirely pleasant experience from a potentially lifesaving vaccine.

As always, your best bet for now is to follow CDC guidelines, wash your hands, maintain social distancing and wear a face covering.

Washington, D.C. – Today, the Manufacturing Leadership Council, a division of the National Association of Manufacturers, released a new collection of emerging strategies and operational practices that leading manufacturers of all sizes are implementing to keep their employees safe and facilities operating. The MLC’s “New Operational Practices to Consider in the Time of COVID-19” brings together the best shared practices within the industry to help manufacturers continue to lead the way as America moves from response to recovery and renewal.

“Manufacturers have been on the front lines throughout this crisis, and this guide leverages the experiences and real-world practices that manufacturers across America have put into place. We’re all looking to get back to some sense of normalcy, but that’s not possible unless we can protect manufacturing workers,” said NAM President and CEO Jay Timmons. “By collecting these practices, the MLC is helping all manufacturers continue to set high standards for protecting employees, families and communities, while creating products essential to our daily lives.”

Shared Practices Breakdown:

• Site Access to Mitigate Exposure
• Workstation Measures to Promote Social Distancing
• Facilities and Traffic Management
• Shift and Team Design
• Leave Policies
• Illness or Diagnosis Response
• Essential Travel Policies
• Returning Nonessential Workers

The MLC compiled and shared these practices to assist manufacturers taking steps in their facilities to meet or exceed existing guidelines from the various federal agencies while also mitigating operational and business risks that are outside the scope of such guidance.

“Since this crisis began, the NAM has been working with Vice President Pence and the Coronavirus Task Force, Centers for Disease Control and Prevention, Occupational Safety and Health Administration and others to relay real time information from our industry and to ensure manufacturers received the critical guidance they needed to operate safely,” said NAM COO Todd Boppell. “The MLC has also convened thousands of manufacturing leaders to share practices and develop new ideas for operating safely through this crisis. Manufacturers have come together to help each other and to help our country.”

This information is not meant as authoritative legal, medical or regulatory guidance or advice. It is not an exhaustive list of operational practices in the COVID-19 environment but rather represents some of the most common “best practices” communicated to the National Association of Manufacturers.

To read the full document click here.

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The Manufacturing Leadership Council is the world’s first member-driven, business leadership network dedicated to helping senior industry executives identify the opportunities created by transformational digital technologies in the operation, organization, and leadership of manufacturing enterprises as they pursue their journeys to Manufacturing 4.0. For more information visit https://www.manufacturingleadershipcouncil.com/

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The National Association of Manufacturers is the largest manufacturing association in the United States, representing small and large manufacturers in every industrial sector and in all 50 states. Manufacturing employs more than 12.8 million men and women, contributes $2.37 trillion to the U.S. economy annually and has the largest economic multiplier of any major sector and accounts for 63% of private-sector research and development. The NAM is the powerful voice of the manufacturing community and the leading advocate for a policy agenda that helps manufacturers compete in the global economy and create jobs across the United States. For more information about the Manufacturers or to follow us on Twitter and Facebook, please visit www.nam.org

Washington, D.C. – National Association of Manufacturers President and CEO Jay Timmons delivered the eighth-annual NAM State of Manufacturing Address today at equipment manufacturer Vermeer Corporation in Pella, Iowa. Speaking to Vermeer Corporation employees, business and community leaders and local manufacturers, Timmons highlighted the NAM’s ambitious plan to address the industry’s growing workforce crisis with the groundbreaking, multimillion-dollar “Creators Wanted” campaign.

In his remarks, Timmons said:

“For 125 years, your NAM has led the business community and fought for all who make things in America. And all of you in this room, and the 13 million men and women in our industry, some of whom are watching today, are part of the storied history of building an exceptional nation. And Vermeer, this very company, embodies the story of manufacturers’ progress.”

. . . .

“In this pivotal year, the NAM and The Manufacturing Institute, our workforce and education partner, are setting out on an unprecedented campaign to inspire a new generation—and tell the real story of our industry. . . . Our historic effort, called “Creators Wanted,” is a capital campaign that will support the programs of the Manufacturing Institute—including the STEP Women’s Initiative, youth engagement and Heroes MAKE America, which trains our returning servicemembers for high-paying manufacturing jobs.”

. . . .

“Just yesterday, in his remarks at the World Economic Forum, President Trump touted manufacturing’s growth and success during his presidency. As I’ve said before, from tax reform to regulatory certainty to leveling the playing field, promises made to manufacturers have been promises kept—and the employment and output numbers show it.”

. . . .

“Here’s what I will say about this election . . . It’s not the label next to a candidate’s name—whether an “R,” a “D” or an “I”—that determines whether he or she will be a good president or even a good member of Congress. The test is whether he or she will work to uphold the values that make America exceptional. These are the same four values, the same four pillars, that make our industry’s success possible.”

Timmons also noted the generous contributions made by Vermeer and Pella Corporation to the NAM’s Creators Wanted campaign.

“And I am proud to announce today that Vermeer Corporation, along with your foundation and Mary and Dr. Dale Andringa, have contributed $100,000 to this cause. And another local manufacturer, Pella Corporation, is also leading by example with a $100,000 contribution of their own,” said Timmons.

Vermeer Corporation President and CEO Jason Andringa thanked Timmons for his visit and the NAM’s commitment to ensuring the long-term success of manufacturing in the United States.

“Thank you to Jay Timmons and the National Association of Manufacturers for visiting Vermeer Corporation and recognizing the incredible work of our team members and manufacturers across the country,” said Andringa. “These men and women truly demonstrate the impact our industry makes every day and represent the success of American manufacturing.”

To read the full address, click here.

-NAM-

The National Association of Manufacturers is the largest manufacturing association in the United States, representing small and large manufacturers in every industrial sector and in all 50 states. Manufacturing employs more than 12.8 million men and women, contributes $2.37 trillion to the U.S. economy annually and has the largest economic multiplier of any major sector and accounts for 63% of private-sector research and development. The NAM is the powerful voice of the manufacturing community and the leading advocate for a policy agenda that helps manufacturers compete in the global economy and create jobs across the United States. For more information about the Manufacturers or to follow us on Twitter and Facebook, please visit www.nam.org.