U.S. manufacturers are growing but signaled weakness in exports and worries over new environmental regulations on ozone, a nationwide survey found.
Survey: Weakness in exports worries manufacturers
U.S. manufacturers are also concerned about ozone regulations.
June 11, 2015 at 2:21AM
The survey by the National Association of Manufacturers, which tapped 367 factories across the country, revealed that 76.3 percent of factory heads remained upbeat about sales, production and capital investments in their businesses. That's down from 88.5 percent during NAM's last survey in March.
Manufacturers interviewed during the second quarter said they worried that new ozone rules from the Environmental Protection Agency could create $140 billion in compliance costs for new construction and renovation projects. They also fretted over rising health care costs, the difficulty in finding trained workers and the impact of the stronger U.S. dollar, which makes U.S. make goods more expensive abroad.
About 37 percent of respondents cited weaker export sales.
NAM chief economist Chad Moutray said Wednesday that "export growth is expected to remain sluggish." Exports are expected to rise by only 0.4 percent during the next 12 months. About 55 percent of survey respondents predicted that their overseas sales would be flat this year.
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