NABE survey results

WASHINGTON: Business economists are more pessimistic about their firms’ future sales and profits than they were last fall, and more predict slower economic growth, a survey found. At the same time, a majority of economists surveyed by National Association for Business Economics (NABE) said their firms plan to raise wages in January to March quarter. That is the largest proportion that expects to raise pay since mid-2014. Aside from planned pay rise, the survey paints mostly gloomy view of economy at start of 2016. Less than half the economists expect sales at their firms to rise in first quarter, the smallest proportion since January 2015. And nearly 20 per cent expect profits to fall.