01172021Sun
Last updateFri, 15 Jan 2021 5pm

Manufacturing & The Economy

Final NAM Survey of 2020 Finds Cautious Optimism

The National Association of Manufacturers (NAM) released its final Manufacturers’ Outlook Survey of the year, which showed optimism climbing from its low in the second quarter brought on by the COVID-19 pandemic. In the fourth quarter, 74.2% of manufacturers responding to the survey felt positive about their own company’s outlook, up from 66% last quarter. While encouraging, a wide gap remains between today’s numbers and the 90% average in 2019.

After two quarters with weaker domestic demand topping the list of primary business challenges, the inability to attract and retain talent lead the pack once again in the fourth quarter with 62.4% of respondents listing it as their primary current business challenge. Prior to COVID-19, workforce challenges had been the main concern for 10 consecutive quarters. According to the latest numbers from the Bureau of Labor Statistics, there were 525,000 job openings in manufacturing in October, a record high.

VALVE Magazine Print & Digital

Subscribe FALL20FREE SUBSCRIPTION*

• Print magazine
Digital magazine
• VALVE eNews
Read the latest issue

*to qualified valve professionals in the U.S./Canada

Looking for a career in the Valve Industry?

ValveCareers Horiz

To learn more, visit the Valve Careers YouTube channel to watch the videos below or visit ValveCareers.com a special initiative of the Valve Manufacturers Association

  • Latest Post

  • Popular

  • Links

  • Events

New Products