Survey: U.S. Manufacturers Lower Capital-Spending Expectations

June 17, 2022--Researched by Industrial Info Resources (Sugar Land, Texas)--U.S. manufacturers' capital-spending expectations are down from the first quarter, due to worries about slowing U.S. and global economic growth, according to a quarterly survey by the National Association of Manufacturers (NAM). Respondents to the survey anticipate an increase of 2.6% in capital spending over the next 12 months, lower than 3.8% in the first quarter. Manufacturers indicated increased raw material costs top the list of primary business challenges they face (90.1% of respondents); three-quarters felt inflationary pressures were worse today than six months ago; and 59.3% believed inflation would make a recession more likely in the next 12 months.