Manufacturers are becoming increasingly concerned about the unprecedented number of unbalanced, unworkable regulations being handed down by federal agencies, according to the NAM’s Q2 2023 Manufacturers’ Outlook Survey.

  • Sixty-five percent reported that if regulatory burdens were reduced, they would purchase more equipment; more than 46% said they would pay their workers more.
  • Over sixty-three percent said they spend more than 2,000 hours complying with federal regulations.

Also notable: Other key conclusions from the quarterly analysis, which was conducted from May 18 to June 1, 2023, include:

  • Sixty-seven percent of manufacturers reported being positive about their company’s outlook, a decrease of more than 11% since Q1 (74.7%) and the lowest in nearly three years.
  • Seventy-five percent of manufacturers polled said comprehensive permitting reform would help their businesses, allowing them to hire more employees, expand their operations and/or boost wages.