Optimism for the nation’s economic outlook among U.S. business leaders reached its highest level since 2004, according to the latest data from the Grant Thornton International Business report (IBR), a survey of more than 3,300 business leaders in 45 countries.
- “Following our nation’s political leaders reaching a short-term budget agreement late last year and as economic indicators continue to show improvement, the large increase in optimism among business executives could be indicative that we have moved into the first prolonged period of economic stability since the financial crisis”
- The increase in optimism in the U.S. economy is consistent with what is occurring in other global markets. Net 44% of businesses globally are optimistic of the economic outlook. This marks the highest level since 2007, and a 17% -point increase from the previous quarter.
- IBR data reveals an improvement in sentiment about most areas of business performance and stability. U.S. profitability expectations improved eight percentage points to a net 60% of business leaders expecting to see profits climb in the next year, following a two percentage-point decrease in the previous quarter.
- Hiring expectations in the United States increased to a net 45%, up seven percentage points from last quarter.
- Revenue expectations in the United States decreased to a net balance of 64%, just a slight decline from 65% the previous quarter and a substantial increase from net 46% a year ago.