The July 2017 National Association for Business Economics (NABE) Business Conditions Survey reports improved profits, sales growth and rising wages with some difficulty in hiring in the second quarter of 2017. NABE President Stuart Mackintosh, CBE, executive director, Group of Thirty says, “Materials cost pressures appear to be easing, but more firms are facing higher labor costs and difficulty in hiring, especially skilled labor. Expectations for economic growth have moderated since the previous survey, but 60% of respondents still expect real GDP growth above 2% in the coming four quarters.”
“Slightly over one-third of panelists reports that their firms have experienced some difficulty in hiring,” notes Survey Chair Emily Kolinski Morris, CBE, chief economist, Ford Motor Company. “But employment growth remains positive, and panelists do report some firming in capital spending, though not necessarily related to policy developments, as the vast majority of respondents continues to cite no change in hiring or investment decisions in the wake of post-election developments. Pricing power—or lack of it—and labor costs are generating some headwinds for a significant number of firms.”
The July 2017 NABE Business Conditions Survey report presents the responses of 101 NABE members to a survey on business conditions in their firms or industries conducted between June 15, 2017, and June 28, 2017, and reflects second quarter 2017 results and the near-term outlook.
For more information, visit: www.nabe.com
