The National Association of Manufacturers first quarter survey shows that manufacturers are optimistic that the industry is poised for growth in 2014. Our GDP is strong at 3% and the forecast indicates that the economy will remain strong throughout the year. Increased demand for manufacturing began in third quarter 2013. Although there has been a recent dip due to weather-related issues, there is hope that the momentum from the end of 2013 will continue once the temperatures start warming up.
Overall manufacturers are optimistic but there is still a concern about the following:
- Taxes, regulations and governmental uncertainties
- Rising health care / insurance costs
- Attracting and retaining a quality workforce.
- Weaker domestic economy and sales for our products
- Rising energy and raw material cost