PricewaterhouseCoopers: Economic Optimism in Decline

“This shift in confidence among industrial manufacturers is the result of continued high energy prices, which affects not only the bottom line but also demand,” said Barry Misthal, a partner in PricewaterhouseCoopers’ industrial products practice.

Those surveyed expected energy costs to even out over the next 12 months. Twenty-eight percent predict a further rise in energy costs, while 22 percent think they will fall. This is a significant change from the first quarter of 2006, when 63 percent expected energy prices to rise.