Manufacturing survey shows industry confidence rising

The National Association of Manufacturers (NAM)/Industry Week business outlook survey for the second quarter of 2007 points to confidence edging up from both large and small companies, after declining during the previous four quarters.

"Industry's great untold story is that confidence among large and small manufacturers is on the rise," said David Huether, the NAM's chief economist. "While it hasn't returned to the heights of two years ago, there's a notable improvement from the first quarter of this year. This is the first time in a year and a half that the business outlook improved for both large and small manufacturers."

The survey of 293 NAM member companies showed 80 percent of large and 79 percent of small manufacturers eyeing a positive business outlook for the second quarter of 2007. This is a jump from the 78 and 77 percent of large and small respondents reporting a positive business outlook for the first quarter of this year.

Large manufacturers, those employing over 1,000 workers, and small companies, less than 1,000 workers, recorded their business outlook as well as their 12-month expectation on sales, prices, capital investment, inventories, employment and wages.