A survey conducted by the National Association of Manufacturers, a U.S. trade organization representing 14,000 companies, reported a drop in confidence in the economy.
From January to March, 88 percent of manufacturers reported feeling positive about the economic outlook. By September, that proportion dropped 12 points to 76 percent.
The association’s president and CEO Jay Timmons said Oct. 19—at a virtual press conference held by the Port of Los Angeles—the U.S. manufacturing industry was strong, but companies had concerns about supply-chain disruptions and some tax and immigration policies affecting manufacturers.
More than three-fourths of manufacturers listed supply chain issues as their primary business challenge in August, which they said led to “increased raw material costs, higher costs for key inputs and higher transportation and logistics costs,” according to Timmons….