As American manufacturers are aware, the Economic Census provides comprehensive economic data to help identify and predict future market trends in over 1,000 industries, providing benchmarks for many economic indicators including productivity and Gross Domestic Product. Trade associations, including AMT, and businesses of all sizes depend on this information to accurately determine market share, a key performance indicator and to help with strategic planning. AMT, for instance, uses census data in tandem with its own benchmarking surveys to assist its member companies trying to increase their market shares in new regions throughout the country and around the world.
House Budget Committee Chairman Paul Ryan’s (R-WI) budget, which recently passed the House, eliminated this important business tool. While, the House budget won’t pass the Senate, the fact that the Economic Census was on the chopping block leaves it vulnerable to future funding cuts. Lawmakers need to hear from you about the importance of this economic data to long-term competitiveness.
Visit AMTonline’s Legislative Action Center (www.AMTonline.org/advocacy) to send a letter to your representative and senators encouraging them to continue funding the Commerce Department’s Economic Census.