PricewaterhouseCoopers second-quarter Manufacturing Barometer report showed that industrial manufacturing executives are optimistic about the international economy, but have lower expectations for the domestic economy’s performance over the next 12 months.

Industrial manufacturers have lowered their 12-month growth projections, citing oil/energy costs and competition from foreign markets among their top concerns, as well as the strength of the U.S. dollar and higher interest rates.

However, they remain optimistic that U.S. and global economies will grow and expect international sales to increase to 35 percent of total revenue over the next 12 months. This is an increase from 27 percent in the survey at the same time last year.

The majority plan to increase …