Business owners remain optimistic about the economy

Staff report

YOUNGSTOWN

Optimism among business owners and leaders remains high, but has shifted significantly to a more moderate level, according to the recently released PNC Economic Outlook.

The biannual telephone survey of small and medium-sized business owners, which began in 2003, made several key findings:

Fifty-four percent of business leaders expect to see an increase in sales.

Fifty-one percent expect to see an increase in profits.

Forty-eight percent of business leaders feel hopeful about the business climate

One in three (34 percent) say it’s harder to hire qualified employees than it was six months to a year ago.

The proportion of employers anticipating to increase employee compensation continues to be relatively high, with 37 percent expecting to do so.

Thirty-six percent of respondents expect policy changes from the Trump administration and Congress to have a positive impact on their business over the next year if they were to go into effect.

The PNC Economic Outlook survey was conducted by telephone from July 6 to Aug. 3 among 500 businesses within the U.S. with annual revenues of $100,000 to $250 million.