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States (for activities such as workforce training, re- search and development, capital equipment purchas- es or debt financing new investments), more than 80 percent responded that their company would find it easier to expand their domestic workforce. Meanwhile, 70.5 percent of manufacturers respond- ing to this latest survey felt that passage of a major infrastructure bill would impact their company’s busi- ness plans and outlook positively. Looking At The Trends Some other trends regarding predicted growth rates over the next 12 months: • Sales : Respondents expect sales to rise 4.9 percent over the next 12 months, the best reading since the third quarter of 2018. More than 80 percent of manu- facturers predict that sales will increase over the next four quarters, with 56 percent feeling that orders will rise 5 percent or more. Medium-sized and large manufacturers anticipate sales rising 5.5 percent, whereas small firms forecast increases of 2.9 percent. Smaller manufacturers also had the lowest outlook overall, with 78.4 percent pos- itive about their company’s outlook versus 90 percent or more for their larger counterparts. • Production : Respondents also expect production to increase 4.9 percent over the next 12 months, the strongest reading in 10 quarters.More than 79 percent forecast output to rise over the coming months, with 6.9 percent seeing declining production. Medium and large manufacturers felt the most optimistic, anticipat- ing 5.4 percent growth in production over the next 12 months. In contrast, small businesses expect output to rise 3.2 percent. • Full-Time Employment :Respondents expect full- time employment to rise 2.7 percent over the next 12 months, the highest rate since the second quarter of 2018. More than 60 percent anticipate more full time hiring over the next year, with more than one-quarter predicting employment growth of 5 percent or more. Just 6.2 percent expect employment reductions.Medi- um-sized manufacturers felt the most upbeat in their hiring plans, predicting 3.3 percent growth over the next 12 months. In contrast, small and large firms ex- pect employment to rise 1.9 percent and 2.2 percent, respectively. • Employee Wages :Respondents anticipate employ- ee wages (excluding nonwage compensation, such as benefits) to rise 2.5 percent over the next 12 months, up from 1.9 percent in the previous survey and the strongest figure since the third quarter of 2018. More than 41 percent see wages rising 3 percent or more,
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