Demand Slump (CONT’D FROM PAGE 12)
second half of the year, conditional on production cost relief. In this month’s forecast, the projected decline has narrowed marginally, by $5 per ton, due to the slightly healthier economic outlook and GP’s announcement of the Cedar Springs closure. While in line with our previous expectations, the timing of the Cedar Springs announce- ment nonetheless means that the full slate of expected capacity rationalization has been announced prior to any price erosion actually emerging, which we anticipate will limit the extent to which prices decline unless enabled by cost relief.” For more information, visit fastmarkets.com . NAM Manufacturers’ Outlook Shows Trade Uncertainty No. 1 Concern The National Association of Manufacturers Q2 2025 Man- ufacturers’ Outlook Survey reveals optimism among man- ufacturers across the country has dropped sharply. Only 55.4 percent of respondents report a positive outlook for their companies — a nearly 15-percentage-point drop from Q1 and the lowest level since the height of the COVID-19 pandemic in Q2 of 2020.
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Trade uncertainty remained the top business concern for the second consecutive quarter, cited by 77.0 percent of respondents, followed by increased raw material costs (66.1 percent) and rising health care/insurance costs (60.0 percent). The survey finds 85.4 percent of manufacturers be- lieve Congress should preserve pro-growth tax policies in response to trade uncertainty. The NAM conducted the Q2 2025 Manufacturers’ Outlook Survey May 8-27. Of the manufacturers surveyed, 89.0 percent said that the cost of doing business has increased due to tariffs im- posed this year. The average stated cost increase is 7.7 percent. Of companies for which tariffs are applicable, 61.8 per- cent of respondents said that their export opportunities have been impacted. When asked what manufacturers expect to happen NAM’s Manufacturing Business Outlook, Q1 2022-Q2 2025, includes the percentage of respondents who characterized the current business outlook as somewhat or very positive.
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