Study: More US firms shift work back home

Large manufacturers are increasingly moving production back to the United States from China, according to a new report by The Boston Consulting Group released on Thursday.

In the third annual survey of US-based senior executives at manufacturing companies with annual sales of at least $1 billion, the number of respondents who said their companies were reshoring production to the US from China increased 20 percent from a year earlier.

"Given the fact that China's wage costs are expected to grow, do you expect your company will move manufacturing to the United States?" the August survey asked executives at an unspecified number of companies that manufacture in China.