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Manufacturing Business Confidence Plummets in April

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  Several new surveys point to massive declines in capital spending plans and a growing sense of unease in the manufacturing community.

In April, manufacturing business confidence in the U.S. experienced a significant decline, as reported by the National Association of Manufacturers (NAM). The NAM Manufacturers' Outlook Survey revealed that the percentage of manufacturers feeling optimistic about their company's outlook dropped to 87.4% from 91.8% in the first quarter, marking the lowest level of confidence since the third quarter of 2016. Key factors contributing to this downturn include concerns over trade policy, with 85% of respondents citing it as a primary challenge, and difficulties in attracting and retaining a quality workforce, noted by 67.5% of manufacturers. Despite these challenges, the survey indicated that manufacturers still anticipate positive business conditions in the coming months, although their expectations for the broader economy have weakened.

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[ https://www.industryweek.com/the-economy/news/55283901/manufacturing-business-confidence-plummets-in-april ]