NEW YORK — Only 29% of consumer products executives said they are optimistic about the U.S. economy over the next 12 months, a drop of 24 points from 53% the prior quarter, according to PricewaterhouseCoopers’ Consumer Products Barometer. Also gauged in the third quarter of 2007 was optimism about the world economy over the next 12 months. Half of those surveyed had optimistic projections in the third quarter, while 63% were optimistic when asked in the previous quarter. “The drop-off in domestic optimism is no surprise given the sub-prime credit crunch and the high energy prices that we are all experiencing,” said John Maxwell, head of PricewaterhouseCoopers’ Retail & Consumer Industry Practice. “But on a positive note, consumer products executives are largely positive about their own revenue growth, which signals a strength for our industry.” Revenue projections remain steady over the next 12 months at an average 6.8%, an increase from the prior quarter’s 6.3%, and ahead of the 5.7% projection a year ago. PricewaterhouseCoopers’ Consumer Products Barometer is a quarterly survey of top executives in 59 large businesses.

Read More of Today's Headlines