Manufacturers' optimism regarding their companies dropped since last quarter, according to the National Association of Manufacturers's Q2 2023 Manufacturers’ Outlook Survey.Sixty-seven percent of manufacturers reported having a positive outlook on their company this quarter compared to 74.7% in the first quarter, marking the lowest ratings since 2020.
During Biden’s 2020 presidential campaign, the president ran on promises of creating 5 million new manufacturing roles as part of his"Buy American" provisions. Biden gave remarks in March on his February jobs report, highlighting his CHIPS and Science Act, the Bipartisan Infrastructure Law, and the Inflation Reduction Act.
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