Manufacturing industry executives are optimistic despite plans to reduce their overall workforce by 1.9 percent over the next 12 months, according to the PricewaterhouseCoopers Manufacturing Barometer.

The first quarter barometer consisted of 80 interviews with a panel of senior executives from large, U.S.-based industrial manufacturing companies. Although workforce reduction was the theme across the board, the survey shows that 36 percent of manufacturers plan to add to their workforce whereas 23 percent plan to reduce it. Despite these mixed signals, the barometer suggests that executives are increasingly optimistic about the economy and expect top-line growth for the year.

"Job growth is a concern as manufacturers desire to remain lean--doing more with less," says Dean Simone, the U.S. leader of PricewaterhouseCoopers’ industrial products practice. "These results show that manufacturers who plan to add to their workforce will do so cautiously, whereas those who plan to reduce it will do so more aggressively. However, there are several positive indicators that point to improved prospects for U.S. manufacturers. The pricing environment appears to be firming, and manufacturers expect to benefit from the growing economy."

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