After months of declining optimism, U.S. manufacturing leaders are showing renewed confidence, according to Chief Executive’s October 2025 CEO Confidence Index survey. Despite ongoing tariff pressures and geopolitical turbulence, the sector appears to be stabilizing, buoyed by strong order backlogs and fresh business development opportunities.

Following consecutive drops in August and September 2025, manufacturing CEOs rated current business conditions at 5.6 out of 10—a notable 24% jump from September’s 4.5 rating. This marks the closest the industry has come to recovering from the sharp downturn seen in March 2025.

Looking ahead, manufacturers anticipate further improvement. Over the next 12 months ...