Personal Liberty Digest™ will be upgraded this weekend to reflect a dynamic new look and mobile-friendly viewing to enhance your experience! Plus, we'll be providing even more of the compelling content you've come to expect, delivered in a whole new way!

  Comments Subscribe to Personal Liberty News Feed Subscribe to Personal Liberty
 

Business Economists Say Sales, Hiring And Pay Are Up

July 21, 2014 by  

WASHINGTON (MCT) — More companies reported increased sales in the second quarter of the year, fueling a jump in hiring and pay raises, according to a survey of business economists released Monday.

After a dismal winter in which bad weather derailed a recovery from the recession, respondents to the National Association for Business Economics survey were much more optimistic about growth.

Economists who said they expect total economic output, or gross domestic product, to expand by more than 3 percent over the coming year tripled to 24 percent in the latest survey, from 8 percent in April.

“Following an exceptionally weak first quarter, sales and employment grew during the second quarter, with the majority of survey participants reporting strong expectations for increased economic growth,” said the group’s president, Jack Kleinhenz, who also is the chief economist at the National Retail Federation.

About 57 percent of respondents reported rising sales at their companies in the quarter, up from 53 percent in the previous survey.

The higher sales led to a significant increase in hiring, echoing the government’s recent employment reports.

About 36 percent of respondents said their firms had increased employment in the second quarter, compared with 28 percent in the April survey.

About 43 percent of respondents said wages and salaries increased at their businesses in the second quarter. That was up from 35 percent in the first quarter and more than double the 19 percent who reported rising wages in July 2013 survey.

Business economists also reported higher prices for their products. A quarter of respondents said their companies had increased prices in the second quarter, compared with 20 percent in the first quarter.

Rising wages and prices add to inflation pressures being monitored by the Federal Reserve. The Fed’s preferred annual inflation gauge rose in May to 1.8 percent, approaching the central bank’s target of 2 percent.

Despite the increased sales, profit growth was down.

About 27 percent of respondents reported rising profit margins in the second quarter, a drop from 32 percent in the April survey.

–Jim Puzzanghera
Los Angeles Times

___

(c)2014 Los Angeles Times

Visit the Los Angeles Times at www.latimes.com.

Distributed by MCT Information Services.

McClatchy-Tribune

Operated jointly by the McClatchy Company and Tribune Company, MCT serves more than 1,200 media clients, online information services and information resellers across the globe. With 600-plus contributors worldwide, MCT has an exceptional variety of sources, providing detailed analyses, opinions and perspectives.

Facebook Conversations

Join the Discussion:
View Comments to “Business Economists Say Sales, Hiring And Pay Are Up”

Comment Policy: We encourage an open discussion with a wide range of viewpoints, even extreme ones, but we will not tolerate racism, profanity or slanderous comments toward the author(s) or comment participants. Make your case passionately, but civilly. Please don't stoop to name calling. We use filters for spam protection. If your comment does not appear, it is likely because it violates the above policy or contains links or language typical of spam. We reserve the right to remove comments at our discretion.

Is there news related to personal liberty happening in your area? Contact us at newstips@personalliberty.com

Bottom
close[X]

Sign Up For Personal Liberty Digest™!

PL Badge

Welcome to PersonalLiberty.com,
America's #1 Source for Libertarian News!

To join our group of freedom-loving individuals and to get alerts as well as late-breaking conservative news from Personal Liberty Digest™...

Privacy PolicyYou can opt out at any time. We protect your information like a mother hen. We will not sell or rent your email address to anyone for any reason.