Industry economists say the US economic recovery is gaining strength, with more firms expressing positive hiring plans than in over a decade.
A new survey from the National Association for Business Economics finds that economists are more hopeful about overall economic growth, the job market and demand for companies' products and services by many measures than they have been since the start of the Great Recession.
The survey found that business decisions are now "being driven by the fundamentals of an improving economy," said Shawn DuBravac, an economist with the Consumer Electronics Association who analysed the findings.
The quarterly survey includes the views of 84 economists for private companies and trade groups who are NABE members. The data are reported by broad industry group. Many results are expressed as Net Rising Index, or NRI the percentage of panelists reporting better outlooks minus the percentage whose outlook is bleaker.
The number of economists who saw hiring by their firms increasing over the next six months was 42 percent, compared with 7 percent who expected to lay off workers. The NRI of 35 was the highest in the 12 years that the question has been asked.