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Manufacturers are showing the highest level of business optimism since late 2012, according to the latest National Association of Manufacturers /IndustryWeek Survey of Manufacturers. The survey found that 86.1 percent of respondents were either somewhat or very positive about their company’s outlook.
The top business challenge, cited by 79.0 percent of respondents, was an unfavorable business climate due to taxes, regulations and government uncertainties. Rising health care and insurance costs followed closely behind, with uncertainties attributed mostly to the implementation of the Affordable Care Act.
“Manufacturers in America are making more products today and making them better than ever before, which is why they believe in a bright future of growth and job creation,” said Chad Moutray, NAM chief economist. “However, Washington’s burdensome regulatory, tax and health care policies still loom large in manufacturers’ business decisions, particularly for the smallest companies. Manufacturers are prepared to make the investments that will jump-start our economy, but we need Washington to work with us, not against us.”
The NAM/IndustryWeek Survey of Manufacturers was conducted among the NAM’s membership of small, medium and large manufacturers.