Is this good news for John McCain, or what!?!
American businesses are expected to fare better in the coming months, according to a survey of economists and analysts released Monday.
Inflation’s steady slowdown this year has boosted Americans’ confidence in the economy. It has also improved the odds of the Federal Reserve pulling off a so-called soft landing, or a scenario in which inflation returns to the central bank’s 2% target without pushing the economy off a cliff.
Americans haven’t felt this optimistic since September 2021, according to the University of Michigan’s latest Surveys of Consumers. US businesses have also grown more optimistic as hiring has become slightly easier and prices at the wholesale level have slowed.
A survey from the National Association for Business Economics released Monday showed that businesses have rejoiced in better economic conditions.
“Results of the July 2023 NABE Business Conditions Survey reflect an economy of rising sales and profits, as material costs decline and stabilizing wages prove less challenging,” said NABE president Julia Coronado in a release.
The latest survey showed that the percentage of respondents reporting rising sales continued to outpace the share reporting falling sales, with the index edging up to 33 from 30 over the past three months.
Meanwhile, a majority of respondents reported that wages at their firms were unchanged — the first time more economists reported no wage gains than rising wages since 2021.
And the net share of respondents reporting better profit margins rose to 0, which was “the first non-negative result after four consecutive surveys.”... (our emphasis)
It's becoming increasingly hard, even for the professional liars in the Republican Party and their enablers in the corporate media, to ignore how well the economy is doing -- but they'll try.
We need to make sure that "stabilizing wages" during rising profits doesn't turn into "stagnating wages."
