NAM Survey: Manufacturers Face Major Headwinds, but Continue Operating in Support of COVID-19 Response
Washington, D.C. – The National Association of Manufacturers released the results of the Manufacturers’ Outlook Survey for the second quarter of 2020 showing that despite a historic drop in optimism, to nearly 34%, and challenging business conditions, the vast majority of manufacturers (98.7%) have continued or only temporarily halted operations. The survey also shows that manufacturers are innovating to find solutions to keep businesses running and to protect workers and communities, with almost 22% retooling to produce personal protective equipment, 67% reengineering processes to reflect COVID-19 safety protocols and 12% completely reevaluating the mission of the firm.
“Manufacturers have led the country through the COVID-19 response, and America is counting on our industry to lead our recovery and renewal,” said NAM President and CEO Jay Timmons. “While these numbers show that we’ve faced difficult circumstances and that there is a challenging road ahead, manufacturers have proven that with our grit, determination and patriotic spirit, we can overcome any challenge facing the nation. And in our ‘American Renewal Action Plan,’ the NAM has shown the way forward.”