Please ensure Javascript is enabled for purposes of website accessibility
Survey of Economists: US Sales and Hiring Likely to Grow
Randy-Reed-Image
By Randy Reed, Operations Manager
Published 6 years ago on
July 17, 2018

Share

DETROIT (AP) — Most U.S. business economists expect corporate sales to grow over the next three months and hiring and pay to rise with them.
But a majority of the economists surveyed by the National Association for Business Economics say the corporate tax cuts that the Trump administration pushed through Congress have yet to affect their plans for hiring or investment. The administration had promoted its tax cuts, which were heavily tilted toward corporations and wealthy individuals, as likely to raise worker pay and promote corporate investment and expansion over time.

Businesses Respond to Trade Conflicts

The NABE also said a majority of respondents from goods-producing companies said their companies were delaying investment, raising prices or taking other steps in response to the Trump administration’s trade conflicts with other nations.
The results of the quarterly survey being released Monday reflect responses from 98 of the NABE’s members between June 14 and June 27.
Sixty-eight percent of the business economists said they foresee sales growing over the next three months. And for a third straight quarter, a higher proportion of respondents reported rising sales at their companies. All the panelists expect the U.S. economy, as measured by the gross domestic product, to expand over the next 12 months.
Goods producers — a category that includes manufacturers, farmers and construction — are most optimistic, with 94 percent saying they expect sales to rise over the next three months.

Wage Growth Expected

Fifty-one percent of the economists said wages rose at their companies between April and June, and they expect pay to keep rising over the next three months. It was the first time since the NABE began analyzing such data in 1982 that it has reported such strong wage growth over two quarters. Forty-one percent of respondents said their companies expect to hire in the next three months.
“Labor market conditions are tight, with skilled labor shortages driving firms to raise pay, increase training, and consider additional automation,” Sara Rutledge, chair of the NABE’s Business Conditions Survey, said in a statement.
Overall, the respondents reported little impact so far from the Trump administration’s tariffs against China, the European Union, Canada and Mexico. A majority — 65 percent — said the trade disputes haven’t led their companies to change hiring, investing or pricing so far.
But among goods-producing companies — which are directly affected by the tariffs and the counter-tariffs by America’s trading partners — a majority said they had made one or more such changes. Twenty-six percent of the goods-producing companies said they had delayed investments, and 16 percent said they had raised prices.

DON'T MISS

How Will Election Winners Bredefeld and Chavez Fit in as Supervisors?

DON'T MISS

California Senate Leader Calls Union ‘Morally Bankrupt’ for Opposing a Vulnerable Democrat

DON'T MISS

R&B Concerts, Comedy, & Worship Take Center Stage This Weekend

DON'T MISS

Speaker Mike Johnson Wins GOP Nomination to Remain in Job, Faces Full House Vote in New Year

DON'T MISS

ICE Immediately Moves to Bolster Surveillance of Illegal Immigrants After Trump Win

DON'T MISS

You Can Win a Lexus in This Fresno Telethon Drawing. Get Tickets Now.

DON'T MISS

Trump Says He Will Nominate Rep. Matt Gaetz of Florida to Be Attorney General

DON'T MISS

Bluesky Has Added 1 Million Users Since the US Election as People Seek Alternatives to X

DON'T MISS

Trump Picks Rep. Matt Gaetz to Be His AG, Ex-Rep. Tulsi Gabbard as Director of National Intelligence

DON'T MISS

California Researchers Discover Mysterious, Gelatinous New Sea Slug

UP NEXT

Fresno County Man Accused of Filing Fake Disability Claims in $300K Fraud Scheme

UP NEXT

Chris Wallace Is Leaving CNN, Eager to Explore New Media Landscape

UP NEXT

US Regulators Investigating Whether Engines on 1.4 Million Hondas Might Fail

UP NEXT

When to Catch the Last Supermoon of the Year

UP NEXT

Mattel Says It ‘Deeply’ Regrets Misprint on ‘Wicked’ Dolls Packaging That Links to Porn Site

UP NEXT

Trump to Target Iran’s Oil Trade in Renewed ‘Maximum Pressure’ Campaign

UP NEXT

4B Movement: After the Election, a Call for Women to Swear Off Men

UP NEXT

FBI Thwarts Iranian Murder-for-Hire Plan Targeting Donald Trump

UP NEXT

Wave of Racist Texts After Election Prompts FBI Scrutiny

UP NEXT

Americans Seek Fresh Start Abroad as Election Sparks Expat Interest

Speaker Mike Johnson Wins GOP Nomination to Remain in Job, Faces Full House Vote in New Year

1 hour ago

ICE Immediately Moves to Bolster Surveillance of Illegal Immigrants After Trump Win

1 hour ago

You Can Win a Lexus in This Fresno Telethon Drawing. Get Tickets Now.

2 hours ago

Trump Says He Will Nominate Rep. Matt Gaetz of Florida to Be Attorney General

2 hours ago

Bluesky Has Added 1 Million Users Since the US Election as People Seek Alternatives to X

2 hours ago

Trump Picks Rep. Matt Gaetz to Be His AG, Ex-Rep. Tulsi Gabbard as Director of National Intelligence

2 hours ago

California Researchers Discover Mysterious, Gelatinous New Sea Slug

2 hours ago

Dallas Long, Olympic Gold Medalist and Among the Best Shot-Putters Ever, Dies at 84

2 hours ago

Trump Picks Sen. Marco Rubio as His Secretary of State

2 hours ago

Trump Meets With Jubilant House GOP and Jokes About a Third Term

3 hours ago

How Will Election Winners Bredefeld and Chavez Fit in as Supervisors?

Garry Bredefeld and Luis Chavez upended two incumbents to join the Fresno County Board of Supervisors. Bredefeld leads Steve Brandau with 54...

1 min ago

1 min ago

How Will Election Winners Bredefeld and Chavez Fit in as Supervisors?

33 mins ago

California Senate Leader Calls Union ‘Morally Bankrupt’ for Opposing a Vulnerable Democrat

52 mins ago

R&B Concerts, Comedy, & Worship Take Center Stage This Weekend

1 hour ago

Speaker Mike Johnson Wins GOP Nomination to Remain in Job, Faces Full House Vote in New Year

1 hour ago

ICE Immediately Moves to Bolster Surveillance of Illegal Immigrants After Trump Win

2 hours ago

You Can Win a Lexus in This Fresno Telethon Drawing. Get Tickets Now.

2 hours ago

Trump Says He Will Nominate Rep. Matt Gaetz of Florida to Be Attorney General

2 hours ago

Bluesky Has Added 1 Million Users Since the US Election as People Seek Alternatives to X

Search

Send this to a friend