PNC’s Chief Economist Stuart Hoffman says the new findings strongly support PNC’s forecast for real GDP growth of 2.5% in 2015 (comparing fourth quarters this year vs. 2014).
Hiring Reaches Three-Year High: One in four (26%) business owners expect to hire over the next six months, which is the most since 2012 and second highest since 2007.
More Pay Raises On the Way: 42% expect to increase their employees’ pay, which is above the 40% in the spring and the most since 2007. In terms of the amount, 61% plan to give raises of 3% or more.
Sales and Profits Expected to Increase: 87% of owners are optimistic about their company’s prospects, up from 83% six months ago. When it comes to sales, 52% expect an increase while 46% expect profits to grow.
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