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Most manufacturers predict recession in 2023: survey ...Middle East
Sixty-two percent of manufacturers expect the U.S. economy to enter a recession this year, according to a survey conducted by the National Association of Manufacturers (NAM). The survey also found that 69 percent of manufacturers have a positive outlook for their company, the lowest figure since the third quarter of 2020. They cited struggles in attracting and finding workers, continued supply chain snags and high raw material costs. It’s the latest warning sign that the U.S. manufacturing industry is slowing down amid weakening demand and higher borrowing costs stemming from the Federal Reserve’s interest rate hikes. The Institute for Supply Management said Wednesday that manu
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