PNC’s Chief Economist Stuart Hoffman says the new findings strongly support PNC’s forecast for real GDP growth of 3.25% to 3.50% this year – the highest since 2004.
Rising Optimism: The results show small business owners have an increasingly positive outlook for their company and the highest optimism about the U.S. economy since 2007.
Energy Boost: Lower energy prices are expected to have a positive impact on profitability and sales. Hiring plans, meanwhile, are still limited – as 22% plan to add full-time employees while 72% will keep staffing the same.
Less Pressure: Inflation pressure is easing as fewer owners expect their prices and costs to increase while more plan to increase employees’ salaries amid savings from lower energy prices.
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