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w w w.in s i g h t o n m f g . c o m March 2014 • /insight on manufacturing | 27 manufacturing Outlook 85% of U.S. industrial manufacturers expect positive revenue growth for their own companies in 2014. 13% forecast double-digit gains and only 3% expect a decline. The projected average revenue growth rate for own- company revenue over the next 12 months increased to 5.4% in the fourth quarter of 2013 from 4.2% in the previous quarter. 73% of U.S. industrial manufacturers planned on increasing operational spending during the fourth quarter of 2013. The main manufacturing increased investment areas in the next year: New product or service introductions (45%) Research and development (37%) Information technology (32%). 60% of U.S. industrial manufacturers plan to hire over the next 12 months. Only 3% plan to reduce the number of full-time equivalent employees and 37% will stay about the same. The most sought-after employees will be skilled labor (42%), followed by professionals/technicians (30%) and production workers (28%). Source: Pricewaterhouse Coopers Q4 2013 Manufacturing Barometer exports drive Wisconsin's economy and boost manufacturing In 2012, manufacturing accounted for 95% of Wisconsin's exports. Since 2009, Wisconsin's manufactured goods exports grew 39%, while the national average increased 46.9 %. Wisconsin's manufactured goods exports rose about four and a half times that of the state's overall economy. Top-five U.S. export markets in 2012, composing 56.2% of Wisconsin exports: Canada (32.8%), Mexico (9.3%), China (6.4%), Australia (3.9%), Japan (3.8%) Total Wisconsin jobs in all sectors supported by manufactured goods exports: 156,400 Manufactured goods exports support 19.4% of Wisconsin's manufacturing jobs. The U.S. average is 21.9% (2009). » 87.7% of Wisconsin exporters were small businesses in 2011. » Wisconsin exported $12.2 billion of manufactured goods to free trade agreement partner countries in 2012—55.3% of Wisconsin's total. Free trade agreement countries: Australia, Bahrain, Canada, Chile, Colombia, Costa Rica, Dominican Republic, El Salvador, Guatemala, Honduras, Israel, Jordan, Mexico, Morocco, Nicaragua, Oman, Panama, Peru, Singapore and South Korea. Source: National Association of Manufacturers & U.S. Department of Commerce