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Key Economic Trends and Investment Priorities for Innovators


As we enter the fourth quarter of 2023, data on the economy continues to be mixed. The manufacturing sector both challenged in many ways, and yet, the economy has proved to be quite resilient. There have also been significant investments in the sector which provide optimism for the future. NAM Chief Economist Chad Moutray will provide insights on what the economic numbers suggest, including the forecast for 2024 and beyond.


  • Chad Moutray

    Chad Moutray is chief economist for the National Association of Manufacturers, where he serves as the NAM’s economic forecaster and spokesperson on economic issues. In addition, he is the director of the Center for Manufacturing Research at The Manufacturing Institute, the workforce development and education partner of the NAM, where he leads efforts to produce thought leadership, data and analysis of relevance to business leaders in the sector. Prior to joining the NAM, Mr. Moutray was the chief economist and director of economic research for the Office of Advocacy at the U.S. Small Business Administration from 2002 to 2010. Mr. Moutray is the vice chair of the Conference of Business Economists, and he is a former board member of the National Association for Business Economics, where he is the co-chair of the Manufacturing Roundtable. He is also the former president and chairman of the National Economists Club, the local NABE chapter for Washington, D.C. He holds a Ph.D. in economics from Southern Illinois University at Carbondale and bachelor’s and master’s degrees in economics from Eastern Illinois University. He is a Certified Business Economist™, where he was part of the initial graduating class in 2015.