News & Insights

Philadelphia, Pa. – During the second stop of the 2026 National Association of Manufacturers’ State of Manufacturing Tour, NAM President and CEO Jay Timmons and Rockwell Automation Chairman and CEO and NAM Board Chair Blake Moret issued the following joint statement on today’s Supreme Court decision:

“Today’s decision underscores the importance of clarity and durability in U.S. trade policy.

“Manufacturers rely on stability to plan investments, grow operations and create jobs. Ongoing legal and policy uncertainty makes it more difficult to make the long-term decisions that drive American competitiveness.

“Now is the time for policymakers to work together to provide a clear and consistent framework for trade, one that strengthens domestic manufacturing, secures supply chains for critical inputs, empowers the administration to negotiate strong trade deals and ensures manufacturers can access the materials and components they need to grow, compete and create jobs in America and the export markets they need to sell U.S.-made goods around the world. If tariffs are utilized as a tool, they should be targeted to countries engaged in specific unfair trade practices, particularly by nonmarket economies.

“We share the president’s goal of ushering in the greatest manufacturing era in American history, and clear, durable trade policies will help manufacturers deliver on that promise. Strengthening supply chain resilience will ensure manufacturers can expand production, compete globally and power economic growth here at home.

“The NAM will continue working with leaders in Congress and the administration to advance durable solutions that support manufacturers, strengthen America’s industrial base and benefit the millions of Americans who depend on a strong manufacturing economy.”

 -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 nearly 13 million men and women, contributes $2.95 trillion to the U.S. economy annually and accounts for 53% 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.

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PHILADELPHIA – From the iconic Rock & Roll Hall of Fame to historic Carpenters’ Hall, the National Association of Manufacturers—an official partner of America250—in partnership with the Pennsylvania Manufacturers’ Association, continued its 2026 NAM State of Manufacturing Tour today in Philadelphia.

Under this stop’s theme, “Charting the Future: Then and Now,” NAM President and CEO Jay Timmons, industry leaders and public officials gathered at the historic site where America’s founders once debated self-governance, to unveil the Manufacturers’ Accord for the Next 250 Years—a declaration of principles to strengthen free enterprise and secure America’s economic leadership.

“More than two centuries ago, leaders met at Carpenters’ Hall to consider a free people might govern themselves—and how a nation might flourish through enterprise, work and ingenuity,” said Timmons. “Today, manufacturers embrace a similar responsibility. We affirm that manufacturing, innovation and free markets have been central to America’s rise—and will determine its future. As manufacturers, we accept our role in shaping what’s coming next. Manufacturers have always helped write America’s story—then, now and for the next 250 years. With the right pro-growth policy framework in place—competitive tax policies thanks to last year’s landmark tax bill, permitting reform, modernized regulations, energy dominance, trade certainty, investing in the manufacturing workforce and smart AI policy—we will strengthen our economy, expand opportunity and build an even stronger America for generations to come. And that’s what the Manufacturers’ Accord is about.”

Timmons was joined by Rockwell Automation Chairman and CEO and NAM Board Chair Blake Moret, Pennsylvania Manufacturers’ Association President & CEO David Taylor and NAM Executive Vice President Erin Streeter—who were the inaugural signers of the Manufacturers’ Accord. Attendees were then invited to add their names, launching a nationwide effort that will invite manufacturing leaders across the country to sign the Accord in the months ahead.

Following Carpenters’ Hall, the tour moved to Rhoads Industries, a family-owned heavy industries manufacturer located in Philadelphia’s historic Navy Yard. Rhoads Industries began in 1896 and has exemplified American manufacturing’s adaptation through historic events, political changes and geopolitical shifts, enduring through all.

During each stop, discussion centered on the NAM’s 2026 legislative priorities, emphasizing that the speed of innovation must be matched by the speed of government.

“In Philadelphia, we see a perfect blend of tradition and transformation,” said Moret. “Whether we are talking about the heritage of Carpenters’ Hall or the cutting-edge technology at Rhoads Industries in Building 57 of the iconic Navy Yard, the message is the same: speed matters. To chart a successful future, we must eliminate the permitting delays that hold back investment, train a future workforce and ensure that our tax code remains a catalyst for domestic growth.”

“Pennsylvania is a manufacturing powerhouse, and our partnership with the NAM is vital to protecting the half a million jobs that sustain our communities,” said Taylor. “Today’s events remind us that while the tools have changed since 1776, the necessity of a strong manufacturing base for our national security and prosperity remains constant.”

From Philadelphia, the 2026 NAM State of Manufacturing Tour will go on to Charlotte, North Carolina; Milwaukee, Wisconsin; Dallas and Houston, Texas; and Phoenix, Arizona. Throughout the tour, the NAM will continue meeting with policymakers, manufacturers of all sizes, students and business leaders, advocating for the people and policies that will ensure the United States is the best place in the world to do business. To learn more about the tour and the NAM’s mission, visit https://nam.org/stateofmfg/.

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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 nearly 13 million men and women, contributes $2.95 trillion to the U.S. economy annually and accounts for 53% 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.

CLEVELAND – The National Association of Manufacturers today kicked off its annual NAM State of Manufacturing Tour, a cross-country sprint spotlighting the vital role that manufacturing plays in supporting the nation’s economy. On the first leg of the tour, NAM President and CEO Jay Timmons and other leaders underscored the state’s industrial momentum while calling on our nation’s leaders to pursue a comprehensive manufacturing strategy—building on permanent, pro-growth tax reform manufacturers secured last summer.

“Innovation Built America. Manufacturing Wins the Future” is the theme of this year’s tour, and framed a series of events in Cleveland, bringing together industry leaders, students and policymakers to spotlight Ohio’s nearly 700,000 manufacturing employees—about 12% of the state’s workforce.

“There’s no better place to start a road tour than the Rock & Roll Hall of Fame,” said Timmons, an Ohio native, at the iconic Rock & Roll Hall of Fame, where he delivered his 13th NAM State of Manufacturing Address. “Like rock ‘n’ roll, manufacturing is everywhere. We are hitting the road to showcase the world-leading innovation happening across the country and how we make the next 250 years even greater. Manufacturers are ready to invest—and we need certainty, like the tax bill delivered last year. Permanent tax reform gave manufacturers the rocket fuel. Now we need clear skies. That’s energy dominance, permitting reform, trade certainty, investing in the manufacturing workforce and smart AI policy.

Timmons was joined by Rockwell Automation Chairman and CEO and NAM Board Chair Blake Moret, Cleveland Mayor Justin Bibb, EQT Corporation President and CEO and NAM board member Toby Z. Rice, The Ohio Manufacturers’ Association President Ryan Augsburger and NAM Executive Vice President Erin Streeter. Following the address, Timmons and Moret hosted a student reception at the Hall of Fame, where they engaged with the next generation of creators. The tour then moved to the Rock Hall’s “Jam Garage” for a unique filming opportunity showcasing the intersection of culture and industry. The setting provided a compelling backdrop for discussions about the connection between manufacturing and rock ‘n’ roll—two distinctly American traditions that involve bold ideas, creative risk-taking embracing technological change and the ability to shape global culture.

“The innovation we’ve seen Ohio manufacturers embrace over time is exactly why this tour is so vital,” said Moret. “At Rockwell, we see every day how automation and AI are redefining what’s possible on the factory floor. By visiting places like Cleveland State University and seeing the talent being cultivated here, it’s clear that Ohio manufacturers are moving at the speed of business. Now, we must ensure the federal government keeps up with that pace.”

The afternoon featured an in-depth tour and lunch at EY-Nottingham Spirk Innovation Hub followed by a final stop at Cleveland State University to discuss the critical intersection of higher education and industrial workforce development.

“Ohio’s manufacturers are the backbone of our state’s economy, and having the national tour stop here in Cleveland underscores the importance of our mission,” said Augsburger. “We are proud to stand with the NAM to advocate for the policies that will keep our nearly 700,000 manufacturing workers at the forefront of global competition.”

From Cleveland, the 2026 NAM State of Manufacturing Tour will go on to Philadelphia, Pennsylvania; Charlotte, North Carolina; Milwaukee, Wisconsin; Dallas and Houston, Texas; and Phoenix, Arizona. Throughout the tour, the NAM will continue meeting with policymakers, manufacturers of all sizes, students and business leaders, advocating for the people and policies that will ensure the United States is the best place in the world to do business. To learn more about the tour and the NAM’s mission, visit www.nam.org.

-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 nearly 13 million men and women, contributes $2.95 trillion to the U.S. economy annually and accounts for 53% 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. – Following the release of a new proposal from the Department of the Treasury reforming key aspects of the Corporate Alternative Minimum Tax guidance and addressing the interaction between the immediate expensing of R&D costs and the CAMT, National Association of Manufacturers Managing Vice President of Policy Charles Crain released the following statement:

“Congress and the Trump administration passed a once-in-a-generation tax law last summer, and now Treasury is building on that win.

“The Corporate Alternative Minimum Tax has threatened manufacturers’ ability to raise wages, hire workers and invest in their communities since it was enacted in 2022. With today’s proposal, Treasury has taken a step toward fixing this fundamentally unworkable regime.

“In particular, the proposed changes to protect H.R. 1’s restoration of immediate expensing for R&D costs will ensure manufacturers are not penalized for their commitment to making investments that drive innovation. Manufacturers conduct 52% of private-sector research—investments that will continue to drive the industry and the economy given that 80% of manufacturers say AI innovation will be essential to grow or maintain their business by 2030.

“The Trump administration is meeting the moment by taking urgent action to supercharge private-sector R&D. Manufacturers called for this critical change, and we thank Treasury for taking this important step to support manufacturing innovation and ensure the continued success of H.R. 1 for our industry.”

-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 nearly 13 million men and women, contributes $2.95 trillion to the U.S. economy annually and accounts for 53% 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.

Existing home sales fell 8.4% in January, the largest monthly decline in nearly four years, and 4.4% over the year. Housing inventory moved down to 1.22 million units, reflecting a 0.8% drop from December but a 3.4% increase from last year. The median existing home price was $396,800, up 0.9% from last year. The Northeast, South, Midwest and West all posted monthly decreases in existing home sales in January.

Single-family home sales fell 9.0% from December and 4.3% from January 2025, with the median price increasing 0.6% from last year to $400,300. Condo and co-op sales decreased 2.6% over the month and 5.0% over the year to 380,000 units in January. Meanwhile, the median price for condos and co-ops rose 3.8% from the prior year to $364,600.

Homes were typically on the market for 46 days in January, up from 39 days in December and 41 days in January 2025. First-time buyers made up 31% of sales in January, up from 29% in December and 28% in January 2025.

The NFIB Small Business Optimism Index edged down 0.2 points to 99.3 in January, remaining slightly above the 52-year average of 98. January’s increase was due primarily to the rise in those expecting better real sales volume. Of the 10 components included in the index, three increased and seven decreased. Meanwhile, the Uncertainty Index jumped 7 points to 91, remaining well above the 51-year average (68) and above the average since 2016 (80).

Small business owners again cited taxes as their top concern, with 18% reporting it as the most important problem, down 2 points from December. The share of business owners reporting labor quality as their top problem fell 3 points from December to 16%, with 31% struggling to fill open jobs and 50% reporting hiring or trying to hire in January. Meanwhile, the cost or availability of insurance was third on the list of concerns, with 13% reporting it as a top problem, up 4 points from the prior month and the highest level since December 2018.

A net 32% of small business owners reported raising compensation, up 1 point in January after rising 5 points in December. Meanwhile, 22% of business owners plan to raise compensation in the next three months, down 2 points from December. Pressure on profitability strengthened in January, with positive profit trends decreasing 1 point from December to a net negative 21%. Among owners reporting lower profits, 34% blamed weaker sales, 14% mentioned usual seasonal changes and 10% noted labor costs. Meanwhile, 3% reported their last loan was harder to get than previous attempts, down 2 points from December, and a net negative 6% of owners cited paying a higher interest rate on their most recent loan, down 3 points from the prior month.

The outlook for general business conditions fell 3 points to 21%. Furthermore, expectations for better business conditions are 26 points below the same month a year ago. On the other hand, 15% reported that it is a good time to expand their business, up 2 points from December but a rather weak reading compared to times of economic expansion. Despite overall growth running hot, small business owners feel like economic conditions are more moderated, with investment-led growth not hitting all sectors equally.

Nonfarm payroll employment rose by 130,000 in January, coming in above expectations. At the same time, the unemployment rate edged down 0.1 percentage point from December to 4.3% in January, while the labor force participation rate ticked up 0.1 percentage point to 62.5%. In addition, the establishment employment survey was revised as a result of the Bureau of Labor Statistics’ annual benchmarking process and the updating of seasonal adjustment factors. As a result of the annual benchmark revision, the employment levels from April 2024 to March 2025 were revised downward by 898,000 nonfarm jobs and 98,000 manufacturing jobs.

Manufacturing employment increased by 5,000 in January after 13 consecutive months of declines. On the other hand, the collective job losses in November and December of 10,000 were revised downward by 8,000 jobs to a decrease of 18,000 jobs. Manufacturing employment is down 82,000 over the year. Durable goods manufacturing employment rose by 9,000 in January, while nondurable goods employment fell by 4,000. The most significant gain in manufacturing in January occurred in transportation equipment manufacturing, which added 4,800 jobs over the month. Meanwhile, the most significant losses occurred in apparel manufacturing and chemical manufacturing, which shed 1,800 jobs each over the month.

The employment-population ratio inched up 0.1 percentage point from December to 59.8% in January but is down 0.3 percentage points from a year ago. Employed persons who are part-time workers for economic reasons declined by 453,000 from December to 4.89 million in January but are up from 4.48 million in January 2025. Native-born employment is down 1,195,000 from December but up 840,000 over the year. Meanwhile, foreign-born employment is up 565,000 over the month but down 97,000 over the year. At the same time, the native-born unemployment rate is up 0.4 percentage points over the year to 4.7% in January, while the foreign-born unemployment rate is down 0.1 percentage point to 4.5%.

Average hourly earnings for all private nonfarm payroll employees rose 0.4%, or 15 cents, reaching $37.17. Over the past year, earnings have grown 3.7%. The average workweek for all employees edged up 0.1 hour to 34.3 hours and by the same to 40.1 hours for manufacturing employees.

In January, consumer prices increased 0.2% from December and 2.4% over the year, down from the 2.7% annual rise in December and less than the anticipated 2.5% hike. Core CPI, which excludes more volatile energy and food prices, rose 0.3% from December and 2.5% over the year, down from the 2.6% 12-month increase in December and the slowest pace since March 2021.

Energy costs edged down 0.1% over the year in January, after rising 2.3% year-over-year in December. Within the energy index, gasoline prices declined 7.5% over the year, while fuel oil prices fell 4.2%. Meanwhile, electricity prices increased 6.3% year-over-year, and natural gas prices surged 9.8%.

In January, food prices grew 2.9% over the year, after increasing 3.1% year-over-year in December, while prices for food at home advanced 2.1%. Meanwhile, prices for food away from home climbed 4.0% from January 2025, down from the 4.1% year-over-year increase in December. Of the different food groups, beef and veal and coffee continue to rise at the fastest pace, soaring 15.0% and 18.3% over the year, respectively.

The shelter index grew 0.2% from December and 3.0% over the year, the greatest factor in the all-items monthly increase but down from the 3.2% annual gain in December. Meanwhile, prices for used cars and trucks decreased 1.8% over the month and 2.0% over the year, while new vehicle prices inched up 0.1% over the month and 0.4% from January 2025. Relatedly, prices for motor vehicle maintenance and repair jumped 4.9% year-over-year.

Although the headline inflation rate is still above the Federal Reserve’s target of 2.0%, it has moderated back closer to 2025 lows. Federal Reserve officials held their interest rate target steady at their January meeting, and markets anticipate that the Federal Open Market Committee will keep its interest rate target unchanged again at next month’s meeting. Risks to the Federal Reserve’s employment and inflation mandates remain elevated but appear to be easing.

Washington, D.C. – The National Association of Manufacturers today launched “Building to Win,” a six-figure campaign urging Congress to pass robust infrastructure investments and reauthorize critical federal highway programs before they expire on Sept. 30. As part of the launch, the NAM unveiled a new infrastructure policy roadmap, including original analysis on the economic costs of congestion on manufacturers and a set of core infrastructure policy pillars. The NAM also debuted a new ad underscoring the importance of infrastructure investment and permitting reform to manufacturing competitiveness.

“Manufacturers need modern, reliable infrastructure to create more jobs, grow our economy and keep America competitive,” said NAM President and CEO Jay Timmons. “From roads and bridges to ports and airports, from highways to runways and waterways, 21st-century infrastructure means supply chains that deliver, commutes that work and communities that thrive. That’s why policymakers must act with urgency this year to invest in robust American infrastructure by passing a strong surface transportation reauthorization bill and commonsense, comprehensive permitting reform.”

Manufacturers’ Infrastructure Policy Pillars:

The NAM’s policy roadmap outlines four pillars for a robust surface transportation reauthorization:

• Continuing robust investment levels for federal infrastructure, including by developing long-term solutions for Highway Trust Fund solvency
• Strengthening supply chains across transportation modes
• Investing in water infrastructure that will support manufacturing growth and public health
• Reforming burdensome permitting laws and regulations to ensure federal infrastructure investments are made efficiently and responsibly

Original Analysis from the NAM: 

• The NAM’s analysis shows that highway congestion costs manufacturers more than $25 billion annually and results in over 65 million hours of delays in freight carrying finished goods and critical inputs each year.
• The analysis also visualizes, through a new map, key logistics nodes intersecting with the nation’s 25 worst freight bottlenecks, revealing more than 2 million hours of annual delays incurred and faced by manufacturers.
• In addition, the NAM estimates that congestion at container and bulk ports cost manufacturers more than $13 billion annually in carrying costs and demurrage charges.

Top 10 Most Congested Regions for Manufacturing Freight

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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 nearly 13 million men and women, contributes $2.90 trillion to the U.S. economy annually and accounts for 53% 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 S&P Global Manufacturing PMI was 52.4 in January, up from the December reading of 51.8. New orders rose in January, though growth was modest and below the survey average. However, exports declined for the seventh consecutive month, as tariffs were noted to have driven up costs and hurt demand. Meanwhile, prices on inputs increased, with vendors raising charges in response, and selling price inflation rose to its highest level since August. In sum, the rate of inflation remained elevated from a historical context in January.

Production rose at the strongest rate since last August, and combined with weak sales, allowed stocks of finished goods to increase for the sixth consecutive month. In anticipation of future production, employment grew modestly in January. Backlogs of orders increased in January due to the rise in new orders, following four months of decline. Meanwhile, delivery times continued to lengthen, a result of difficulty sourcing inputs and resource constraints for suppliers.

Potential for growth from lowered interest rates and reduced import competition held business confidence steady in January. At the same time, output continuing to outpace sales presents the risk of a production slowdown and negative effects on employment unless demand improves.