This is the 10th annual survey of manufacturing company CFOs commissioned by Bank of America Business Capital. The purpose of this proprietary research is to better understand how CFOs view the U.S. and world economy, and gauge the outlook for revenue, financing, M&A activity and involvement in foreign markets. From August 6, 2007 through October 8, 2007, an independent market research firm completed phone interviews with 601 top financial decision-makers drawn from a random sampling of U.S. manufacturing companies (NAICS Codes 31-33) with annual revenues between $25 million and $2 billion. The titles of these individuals varied from company to company (e.g., Chief Financial Officer, V.P. Finance, Director of Finance, Controller, etc.). For convenience, all participants are referred to as CFOs throughout the report. The statistical range of error for the total sample is plus or minus 4%. The total sample is plus or minus 4%.