NEW YORK - Optimism regarding the direction of the domestic economy rose among U.S. industrial manufacturers during the first quarter of 2014, according to the Q1 2014 Manufacturing Barometer, released by PwC US. The positive sentiment about the prospects of U.S. commerce in the next 12 months reached the highest level since the fourth quarter of 2005. Conversely, optimism regarding the prospects of the world economy lessened during the first quarter as U.S. industrial manufacturers remained cautious on the global stage.
Optimism around the prospects of the U.S. economy during the next 12 months rose among U.S. industrial manufacturers to 71% in the first quarter of 2014, from 68% in the previous quarter and 55% in the first quarter of 2013. Concurrent with the improved sentiment, uncertainty around the domestic outlook has continued to abate among industrial manufacturers, dropping to 27% in the first quarter, representing the lowest level since the first quarter of 2012.