Wall Street Journal (04/22/13) Eric Morath
A significant economic slowdown may not materialize this spring after all, according to the National Association for Business Economics. A NABE survey of corporate economists released Monday found U.S. companies are more optimistic about the economy and plan to hire. Some 40% of those surveyed say their company or sector intends to boost hiring in the next six months. Just 9% intend to lay off employees.
“Overall business activity has been expanding for well over three years…we’re at the point where companies can no longer just pay overtime, and need to go hire more people,” says Ken Simonson, chief economist for the Associated General Contractors of America.
Almost two-thirds of the economists surveyed forecast the economy will grow at a pace faster than 2% in the next year, up from 50% that projected similarly strong growth in a January survey.