Insight on Manufacturing

March 2015

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24 | /INSIGHT ON MANUFACTURING • March 2015 w w w.in s i g h t o n m f g . c o m By the NUMBERS Three major factors are driving a positive outlook among manufacturers: Strong revenue forecasts, new hiring plans and a decline in regulatory barriers to growth. U.S. industrial manufacturers forecast their final calendar year 2014 growth rate as 5.2 percent, with a target rate of 5.8 percent for 2015, according to the PricewaterhouseCoopers Manufacturing Barometer Business Outlook Report January 2015. New hiring plans showed a noteworthy uptick for the next 12 months, with 60 percent of companies planning to add 1.1 percent to their composite workforce. The major force behind new hiring is the skills gap: 66 percent of manufacturers plan new hiring that will add 1.3 percent to their composite workforces over the next year. A sharp decline was found in the legislative/regulatory potential barrier to growth over the next 12 months, dropping to 32 percent. A year ago, it was 47 percent (15 points higher). Strong end to 2014 brings positive outlook for 2015 Confidence in U.S. and world economy grows 82% viewed the U.S. economy as growing in Q4 2014, 10 points higher than a year ago (72%) . U.S.-based industrial manufacturers that export products show optimism about the world economy at 38% – but a year ago, it was a notably higher 47% . 20% of manufacturers reported an increase in international sales. Source: PricewaterhouseCoopers Manufacturing Barometer Business Outlook Report January 2015 Industrial manufacturing panelists showed optimism about the U.S. economy's 12-month prospects in Q4, rebounding 11 points to 68% from the prior quarter's 57% , reflecting continued strength. Only 5% were pessimistic, and 27% uncertain. 68% 5% 27% Generosity pays off Consumers are 85% more likely to buy a product from a company that gives to charity. Software companies give the most money to charity annually. Source: Mintigo

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