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Survey: Rising Energy and Raw Material Costs Dampen Optimism

Post: Mar. 15, 2012

A NAM/Industry Week Survey of manufacturers shows that many firms are predicting higher sales and employment in 2012, but that the rising costs of energy and raw materials are cause for concern.

Chad Moutray, chief economist for the National Association of Manufacturers, wrote in the last NAM/IndustryWeek Survey of Manufacturers released in December, “the percentage of manufacturers who were either somewhat or very positive about their business outlook jumped to 80%, up from 65% in the September survey.” Moutray wrote, “The outlook for growth this year improved with the revival in optimism at the end of last year. I am currently predicting 2.6% growth in real GDP in 2012, which is in line with other estimates.”

Moutray is also the author of the very popular “Monday Manufacturing Economic Report the Council of Industry circulates to its members each week.