Today's post comes from a letter our business received from PNC.
PNC Economic Outlook Survey — Fall 2011
U.S. Business Owners' Outlook Deteriorates For Hiring and Sales;
Slow Growth Expected to Keep Jobless Rates High Through 2012
Key Findings:
With weak sales as a major challenge, U.S. small business owners have
no plans to hire over the next six months and many plan to raise
selling prices to preserve profit margins in the face of rising
costs, according to the PNC Economic Outlook survey's newest
findings. The fall 2011 findings of the biannual survey provide
insights on the current mood and sentiment of U.S. small
business owners.
Optimism Shrinks Amid Slow Pace of Growth
Less Optimistic about Own Company:
Just under one-fifth (18%) remain optimistic about their own
company's prospects during the next six months, lower than in the
past year. Just under one-fourth (24%) are pessimistic which is up
from 17% last spring.
Price Hikes to Preserve Profits:
Just over one-third (35%) plan to raise their selling prices and
only 7% intend to cut, which is similar to the potential pricing
pressures identified six months ago.
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