More caution:
U.S. manufacturers more cautious in 4Q outlooks
NEW YORK, Feb 23 (Reuters) - Industrial manufacturers were more cautious about their outlook in the fourth quarter, scaling back revenue forecasts and capital investment plans from the prior quarter, according to the PricewaterhouseCoopers Manufacturing Barometer released on Wednesday.
While executives at large manufacturers interviewed for the Barometer were more optimistic about the U.S. economy than the average of executives in all sectors, they were also more concerned about competition from foreign producers, oil and energy prices, currency fluctuations and decreasing profitability than their peers.
Earlier this month, the Philadelphia Fed survey -- often used to gauge the overall state of factories nationwide -- showed a rise in factory activity and suggested stronger new orders and shipments, supporting the executives' optimism about the U.S. economy…
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