Business confidence at 20-year high
This from the Financial Times:
Confidence among US business leaders is stronger than it has been for 20 years, according to a long-running measure of boardroom attitudes, as rising profits finally encourage companies to start hiring.The increased confidence is expected to influence employment numbers:
The quarterly survey by the Conference Board confirms last week's official employment data suggesting concerns about a jobless recovery may be waning.
Overall confidence levels about the economy are the highest since 1983, with more than three quarters of CEOs expecting continued growth over the next six months.It is also increasing the strength of the dollar, which had been in a nine-month slide:
"They now forsee enough growth that despite productivity gains they will need to hire more bodies."
Based on a survey of 16,000 U.S. employers, 28 per cent said they plan to increase hiring activity for the April - June period, while 6 per cent expect a decrease in employment opportunities.
Expectations that a healthier job market will allow a rise in US interest rates also helped push the dollar to a four-month high against the euro yesterdayThere is also an increase in the rate of growth of jobs -- perhaps related. [Link via Glenn Reynolds.]
Posted by Dan Brooks on April 6, 2004 at 09:14 AM | Permalink