National Survey Shows More U.S. Businesses Are Reporting Profits and Increased Hiring
Businesses Report Greater Confidence in Their Likelihood to Grow Over the Next 12 Months However, Demand for Financing Trending Down
The Q3 PCA Index results show that businesses are showing signs of more confidence that they will grow this year compared to one year ago. In Q3 2017, 87 percent said they are extremely or somewhat confident their business will grow this year compared to 80 percent in Q3 2016. In addition, businesses also are increasingly optimistic that revenue growth will occur in the next 12 months, reporting a positive revenue expectation incline from 8.3 percent in Q3 2016 to 9.2 percent in Q3 2017.
In Q3 2017, 63 percent of all businesses said they were profitable, up from 56 percent in Q3 2016, a 12 percent increase year over year. Seventy five percent of small businesses (with revenues of
Demand for financing is down across the board among all size businesses. Financing for planned growth or expansion, including acquisitions not yet realized was down from 66 percent in Q2 2017 to 62 percent in Q3 2017.
Hiring continues to be strong. In Q3 2017, 66 percent of businesses said they plan to hire in the next six months (consistent with Q2 2017 at 65 percent) and up 10 percent compared to a year ago (60 percent Q3 2016). Among companies that said they would not hire in the next six months, 21 percent named "economic uncertainty," 16 percent said "ability to find employees" and 14 percent said "government regulations and taxes" as the reason.
The PCA Index is a quarterly indicator produced by the
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