NAM Sees Manufacturers’ Optimism Rising
March 11, 2021
National Association of Manufacturers released its first
Manufacturers’ Outlook Survey of 2021 and the
first since the Biden administration took office. The survey showed
manufacturers’ optimism increasing to nearly 88%—the highest reading in two
years, and up from 74% in the Q4 2020 survey. This steady improvement represents
an increase of 54 percentage points since the results of the first survey that
measured manufacturers’ sentiment after the pandemic was declared (34% in Q2
Increased costs of raw materials (76%) and the inability to attract and retain talent (66%) were the top-two biggest challenges facing manufacturers in 2021.
Other top worries included rising health care and insurance costs (50.9%), transportation and logistics costs (50.2%), supply chain challenges with inventory management (48.7%) and an unfavorable business climate, including taxes and regulations (44.0%).