The National Association of Manufacturers released its Q2 2025 Manufacturers’ Outlook Survey, which revealed that optimism among manufacturers across the country has dropped.
According to the survey, 55.4% of respondents reported a positive outlook for their companies, a nearly 15% fall from Q1 and the lowest level since the height of the COVID-19 pandemic in Q2 of 2020. The report also showed that 85.4% of manufacturers believe Congress should preserve pro-growth tax policies in response to trade uncertainty.
Trade uncertainty remained the top business concern for the second consecutive quarter, cited by 77% of respondents, followed by increased raw material costs at 66.1%.
“These numbers are yet another indicator that manufacturers need increased policy certainty,” NAM President and CEO Jay Timmons said. “Congress must act urgently to preserve tax reform and empower manufacturers to make the long-term investments that drive the American economy. This quarter’s results also show that manufacturers need a strategic approach to trade policy that allows our industry to reduce costs and access the inputs we need to make things in America.”