Economic Optimism Slowly Rebounding among U.S. Industrial Manufacturers

New York — May 6, 2009 — U.S.-based industrial manufacturers reported a slight uptick in economic optimism, with 16 percent of executives in a recent poll expressing optimism about the U.S. economy over the next 12 months, up 11 points from the previous quarter, according to PricewaterhouseCoopers.

More than half the respondents (55 percent) in PwC's first-quarter Manufacturing Barometer survey remain pessimistic about the U.S. economy, which is an improvement from the 70 percent who were pessimistic last quarter.

Anxieties over international prospects remain high amidst the global recession, as 98 percent of manufacturers marketing abroad agree that the global economy declined in Q1. International sales turned increasingly negative in the first quarter, with more than half (60 percent) of respondents reporting decreased international sales from Q4 2008.