U.S. business confidence strongest since June 2014
This was shown by a net balance of +37% of companies forecasting growth, the highest since June 2014.
Firms generally linked positive sentiment to more favourable business conditions and new product developments.
Expectations were also influenced by more robust client demand and larger customer bases.
That said, supply chain pressures and possible changes in government regulation were identified as potential threats to growth.
Manufacturers and service providers also forecast a solid expansion in new business over the year ahead, with overall optimism around work reaching its highest in over three years.
Greater client activity and expansion into new markets have been cited as reasons for the anticipated rise in new orders.
At the sector level, both manufacturers and service providers expressed a marked degree of optimism towards future new orders.
In line with positive expectations for business activity and new orders, firms forecast the strongest rise in business revenues since June 2014.
Furthermore, expectations around future profits are at their most positive since February 2014, amid reports of new US business activity expectations product developments and investment opportunities in the coming 12 months.
Notably, US firms have a larger degree of optimism regarding future profitability when compared to the global average. ■