PNC Economic Outlook Survey --
Business Owners Proceed With Caution: Outlook Brightens on Sales and Hiring, But Higher Costs Force Price Hikes, PNC Survey Reveals
One out of two small business owners nationwide expect increased sales in the next six months, but rising costs will prompt many to raise prices in an attempt to preserve profit margins, according to the latest findings of the PNC Economic Outlook. The Spring 2011 findings of the bi-annual survey provide insights on the current mood and sentiment of U.S. small business owners.
Business Owner Optimism Improves With Self-Sustaining Economic Expansion Underway
- Sales, Profits and Jobs: Almost half (48 percent) expect their sales to increase compared to 42 percent in the fall. Nearly four in 10 (37 percent) expect profits to increase compared to 31 percent in the fall. One quarter (24 percent) expect to hire full-time employees, up slightly from the Fall (22 percent) and double the Spring 2009 low point (12 percent)
- Local Outlook Improving: The sentiment about local economies is getting brighter, with 62 percent of owners optimistic about their local economies (compared to 57 percent in the Fall)