NABE: Growth Slows; Tariffs Disrupt Business Conditions

Nov. 8, 2019
The latest NABE survey indicates a slowing economy with even slower growth forecasted over the next 12 months.

The latest NABE (National Association for Business Economics) Business Conditions Survey reveals a slowing economy with even slower growth forecasted over the next 12 months, according to NABE President Constance Hunter, CBE, chief economist, KPMG. The consensus outlook for the U.S. economy remains positive but has moderated since the July survey.

“After more than a year since the U.S. first imposed new tariffs on its trading partners, higher tariffs are disrupting business conditions, especially in the goods-producing sector,” says Hunter. “Two-thirds of respondents from that sector indicate that tariffs have had negative impacts on business conditions at their firms.”

Survey respondents also report that capital spending declined sharply among more firms in the third quarter than the second. “Notably, fewer respondents reported increased capital spending on equipment and information technology at their firms than at any time in the past five years,” says NABE Business Conditions Survey Chair Sam Kyei, CBE, chief economist, SAK Economics LLC.

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