141 PNC’s latest survey of small and mid-sized businesses reveals record-high optimism for economic conditions over the next six months. The survey, conducted until February 1st, shows a surge in positivity, with 55% highly optimistic about the national economy, up from 34% last fall. Global economic optimism also rose to 40%, from 25% in the previous survey. Moreover, nearly two-thirds (63%) express high optimism about their local economy. Business owners are equally bullish about their own ventures, with 79% reporting strong optimism, consistent with last fall’s figures. Notably, the construction sector leads in optimism, with 85% anticipating better times ahead for their businesses. Gus Faucher, PNC’s chief economist, notes the positive outlook amidst a robust economy but warns of remaining risks. Inflation pressures seem to ease, with fewer businesses (47%) planning price hikes in the next six months. Additionally, expectations of supplier price increases have decreased to 40%. While 21% of businesses plan to increase full-time workforce, hiring challenges persist, with the lack of overall applicants remaining a top concern. Faucher emphasizes the evolving nature of hiring challenges and ongoing pressure on employers due to rising hiring and compensation costs. You Might Be Interested In Goldman Sachs Predicts OPEC+ Unlikely to Raise Production in June Meeting Aramco Invests $7.7 Billion to Expand Fadhili Gas Plant Fisher Asset Management Increases Stake in J. M. Smucker Company Microsoft Equips China Staff with iPhones Due to Android App Gap UK Regtech Firm GSS Secures £37 Million in Series A2 Funding UK Government Reduces Stake in NatWest, No Longer Controlling Shareholder
