2023 Aviation Industry Recession Predicted In Survey Written 6 January 2023
Demonstration flight at 2019 Paris Air Show. | Credit: Associated Press-©
The Hill reports that 62 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.” The researchers 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 manufacturing contracted for the second straight month in December and reached its weakest point since May 2020.”
Full Story (The Hill)