The National Association of Manufacturers (NAM) issued the first quarter results of its 2016 Manufacturers’ Outlook Survey. The report shows a continued decline in sentiment among manufacturing executives and anxiety over the faltering global business climate. In fact, more than 70 percent of respondents felt that the U.S. Federal Reserve should wait until the economy improves before considering additional rate hikes. The Federal Reserve is slated to meet next week where the course of action on interest rates will be discussed. 

“In spite of improved overall economic data of late, the manufacturing sector remains challenged,” said NAM Chief Economist Chad Moutray. “With discouraging data—from declining manufacturing production to a downshift in demand and shipments—it’s no wonder manufacturers remain anxious.

“Our challenges are far from over, and this survey’s data make it clear that global headwinds and inaction in Washington on pro-manufacturing policies continue to hamper manufacturers’ outlook. In terms of policies that will help to turn around the manufacturing sector, business leaders will continue to embrace pro-growth initiatives, such as those outlined in the NAM’s “Competing to Win” document, especially in this all-important election year.”

To learn more about the Manufacturers’ Outlook Survey, click here.