Consumer Products Companies Optimistic about Economy

NEW YORK -- Seventy-two percent of consumer products companies are optimistic about the U.S. economy over the next 12 months, up from 64% last quarter, according to PricewaterhouseCoopers‘ Retail & Consumer Industry Practice‘s Consumer Products Barometer. Fifty-six percent of executives surveyed are planning major new investments of capital within the next year, a 13 percentage point increase from last quarter. Sixty-six percent of companies are investing in IT, 58% in marketing sales/promotion, 56% in new product and service introductions and 48% in advertising. “The fourth quarter reveals an overall upbeat picture in regards to economic optimism, revenue growth and increased spending in the consumer products industry,” said John Maxwell, leader of PricewaterhouseCoopers‘ Retail & Consumer Industry Practice, in a statement. “More consumer products companies are planning major new investments than ever before, as the majority of companies are expecting positive revenue growth over the next 12 months.”