Battelle Predicts Modest Overall R&D Increases For 2004
February 11, 2004
Total R&D expenditures in the U.S. are expected to increase about 2.5% from the $283.8 billion spent in 2003 to nearly $291 billion in 2004, according to the annual Battelle-"R&D Magazine" funding forecast. Based on data from the National Science Foundation, the forecast predicts that federal R&D spending will be $89.4 billion, an increase of 4.8%. Industrial spending on R&D is expected to increase less than a percentage point, at .85%, for a total of $181 billion, while academia and other non-profit funding is expected to increase an average of 7.6% to $20.3 billion.