The National Association of Manufacturers (NAM)/Industry Week business outlook survey for the second quarter of 2007 points to confidence edging up from both large and small U.S. companies, after declining during the prior four quarters.
The survey of 293 NAM member companies showed 80% of large and 79% of small manufacturers eyeing a positive business outlook for the second quarter of 2007. This is a jump from the 78% and 77% of large and small respondents reporting a positive business outlook for the first quarter of this year.
Looking ahead 12 months, both large and small manufacturers expect their sales to continue growing. Small firms expect their sales to increase by 3.9%, an improvement from the first quarter. Both large and small manufacturers expect their pricing power to increase. Large firms expect their prices to rise by 2% while small firms expect the prices of their products will increase by a similar 1.9%, another increase for both small and large firms compared to the first quarter of 2007.
Both large and small respondents to the first quarter survey expect to increase employment over the next 12 months.
Large survey respondents expect wages to increase by 1.9% over the coming 12 months; small companies anticipate wages will increase by a stronger 2.3% over the coming year.