MIAMI, FL—U.S. manufacturers are targeting an aggressive 1.5 percent reduction in cost of goods sold for 2013 in an effort to drive margin growth, according to a new study from The Hackett Group Inc.

CHICAGO—Seventy-two percent of CFOs at small and midsized manufacturers are moderately or highly optimistic about their companies’ financial prospects in the next 12 months, according to Prime Advantage, a buying consortium.

WASHINGTON—CEOs’ expectations for the economy over the next six months have improved due to expected higher sales and capital spending, but expectations for hiring remain flat, according to the last economic outlook survey from the Business Roundtable.

WASHINGTON—Production workers averaged 41.9 hours a week in February, according to the Labor Department. That tied December 1997 and January 1998 for the highest average since May 1944.

WASHINGTON—A burst of hiring last month added 236,000 U.S. jobs and reduced the unemployment rate to 7.7 percent from 7.9 percent in January. The unemployment rate is at its lowest level in four years. Job growth has averaged more than 200,000 a month since November.

WASHINGTON—Manufacturing grew in February at the fastest pace in 20 months, according to a report Friday from the Institute for Supply Management. And a survey from the University of Michigan showed that consumer sentiment rose last month to its highest level since November.

HARTFORD, CT—Some 88 percent of U.S. manufacturing executives have added workers this year or will soon, according to a new survey by Travelers.

WASHINGTON, DC—The equipment leasing and finance index rose for a third straight month in February, reflecting increasing optimism about the economy.

CLEVELAND—Thirty-seven percent of metal-forming companies predict that economic activity will improve during the next three months, and 50 percent expect an increase in orders, according to the February Business Conditions Report from the Precision Metalforming Association. That’s an increase from 32 percent in January.

MADISON, WI—Sixty-nine percent of control system integrators expect revenue growth this year, and a quarter of those look for gains of 15 percent or more, according to a new survey.

The manufacturing industry is at a turning point, requiring the ability to visualize the possibilities and challenges to come so preparations can be made now.