clear
Wednesday June 1st, 2016 3:36AM

Companies report rising sales, employment in 2Q

By The Associated Press
DETROIT (AP) -- Rising sales helped boost hiring and wages at U.S. businesses in the second quarter, and companies are optimistic that the trends will continue this fall, according to a new survey by the National Association for Business Economics.<br /> <br /> Fifty-seven percent of the 85 respondents to the quarterly survey said sales at their companies rose in the April-June period. That was up from 53 percent in the first quarter and 35 percent in the same period a year ago. Just 5 percent of firms said sales fell during the second quarter.<br /> <br /> Respondents also said the outlook for the July-October period is strong. Fifty-nine percent of respondents said they expect sales to increase during the third quarter, and just 1 percent expects sales to decline. Respondents from the finance, insurance and real estate sector were most optimistic about sales increases, while the service sector lagged.<br /> <br /> As sales picked up, so did hiring. Thirty-six percent of firms said they hired more workers during the second quarter, up from 28 percent in the first quarter and 29 percent in the second quarter of 2013.<br /> <br /> The employment outlook was steady, with 37 percent of respondents expecting their companies to hire more workers in the July-October period. Finance, insurance and real estate companies were most likely to say they expect employment increases, at 48 percent; service companies were the least likely, at 28 percent. Less than 10 percent of respondents expect employment declines in the third quarter.<br /> <br /> For the first time since October 2012, no respondents reported falling wages. Forty-three percent said their firms raised wages during the second quarter, which was than double the share that reported raising wages during the same time period a year ago. More than one-third of respondents - 35 percent - expected wages to continue to increase in the third quarter.<br /> <br /> Hiring and wage increases hit companies' profits. Just 27 percent of respondents said their firms' profit margins rose in the second quarter, down from 32 percent in the first quarter. Despite the slowdown, manufacturers and financial companies both said they expect margins to grow at a faster pace in the third quarter.<br /> <br /> Some companies improved their margins by raising prices. Twenty-five percent of respondents said their businesses raised prices in the second quarter, up from 20 percent in the two previous quarters. Eight percent said prices fell, up from 3 percent in the first quarter.<br /> <br /> Technology and communications companies and manufacturers said prices were up during the quarter, while service companies and finance companies said prices were softer. Nearly three-quarters of respondents expect no change in the prices their firms will charge in the third quarter.<br /> <br /> The quarterly survey by NABE is intended to gauge business conditions at members' firms or industries. Almost half the respondents are from companies with more than 1,000 employees.
© Copyright 2016 AccessWDUN.com
All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
Judge denies motions to move, delay Tsarnaev trial
Lawyers for Boston Marathon bombing suspect Dzhokhar Tsarnaev asked a federal appeals court Wednesday to overturn a judge's decision to not move his upcoming trial out of state.
10:02PM ( 1 year ago )
High court to adopt electronic filing of cases
The Supreme Court is belatedly developing an electronic filing system similar to those used in courts around the country, Chief Justice John Roberts said Wednesday in his annual end-of-year report.
7:57PM ( 1 year ago )
Storm brings snow, cold to West for New Year's
A blustery winter storm dumped snow and ice across the West on Wednesday, making driving treacherous in the mountains from California to the Rockies and forcing residents and party-goers in some usually sun-soaked cities to bundle up for a frosty New Year's.
5:19PM ( 1 year ago )
U.S. News
State DOT awards $48M contract for NE Ga. road project
The state Department of Transportation has awarded a $47.8 million contract for nine miles of work on a northeast Georgia road.
9:37AM ( 1 year ago )
Business News
Grass fire impacts rush hour traffic on 985
Rush hour traffic on I-985 was slowed by a grass fire Wednesay afternoon with one lane closed while firefighters fought the blaze.
10:19PM ( 1 year ago )
Hall County conviction, sentencing to be reviewed by SCOGA
The State Supreme Court has agreed to hear the appeal of a Hall County man when they reconvene in January.
2:37PM ( 1 year ago )
Maysville man dies from Banks County wreck
The Georgia State Patrol reports that alcohol and/or drugs were factors a single-vehicle wreck that claimed the life of a Maysville man in Banks County Tuesday night.
11:07AM ( 1 year ago )
Local/State News
Big Trump checks to vets groups sent on day of media report
More than a dozen big checks flowed out of New York last week, bound for veterans' charities from Donald Trump
9:21PM ( 6 hours ago )
Obama urges public to get ready for hurricane season
President Barack Obama is urging the public to prepare for the coming hurricane season and warning against what he says is a growing "complacency" when it comes to dangerous weather
6:07PM ( 9 hours ago )
Amid shouts of 'shame,' House GOP defeats gay rights measure
Democrats shouted "shame," but House Republicans switched their votes and defeated a measure to protect gay rights
8:03PM ( 1 week ago )
CDC director Freiden warns GOP Zika bill is inadequate
The head of the Centers for Disease Control and Prevention warned Wednesday that a House GOP measure to combat the Zika virus is inadequate to deal with the swelling threat to public health
7:36PM ( 1 week ago )
Trump unveils list of his top picks for Supreme Court
Donald Trump, the presumptive Republican nominee for president, released Wednesday a list of 11 potential Supreme Court justices he plans to vet to fill the seat of late Justice Antonin Scalia if he's elected to the White House.
3:31PM ( 1 week ago )