Issue link: http://www.insightdigital.biz/i/130708
Growth Barriers Expected barriers to growth: 1Q '12 1Q '13 Change •Legislative/regulatory pressures •Lack of demand •Taxation policies •Oil/energy prices •Decreasing profitability •Lack of qualified workers •Competition from foreign markets •Capital constraints •Monetary exchange rate •Pressure for increased wages •Higher interest rates 40%55% 47%48% 20%45% 53%35% 22%26% 17%19% 33%19% 20%17% 32%12% 17%10% 13%7% Source: The Pricewaterhouse Coopers' Q1 2013 Manufacturing Barometer Business Outlook Report Energy consumption drops 25000 Interviews with 173 industrial manufacturing CEOs in 39 countries say they are increasing their investment in building and keeping skilled workforce. In fact, it is projected as their No. 1 priority during the next three years. The U.S. and China are considered the most important countries for overall growth prospects in the next year. Source: Pricewaterhouse Coopers' 16th Annual Global CEO Survey BTUs IN TRILLIONS 20000 15000 10000 5000 The current federal minimum wage is $7.25 an hour. 0 A full-time worker making the minimum wage earns $14,500 a year. 2006 2010 Energy consumption in U.S. manufacturing dropped from 21,098 trillion Btu (tBtu) in 2006 to 19,062 tBtu in 2010, a decline of almost 10 percent. The decrease in energy consumption has continued since 1998. Source: 2010 Manufacturing Energy Consumption Survey Nineteen states have set higher minimum wages since the most recent federal increase in 2009. Source: The U.S. Department of Labor and President Obama's State of the Union address, Feb. 12, 2013 w w w.in s i g h t o n m f g . c o m May 2013 • / insight on manufacturing | 15