Mid-sized companies remain upbeat about the near-term outlook. That’s according to the latest report from M&T.
The report from the largest full-service bank in Delaware suggests further improvement in national economic performance over the remainder of 2018. Companies were polled in M&T’s service area, which includes the Mid-Atlantic region.
Findings were similar to a report from rival PNC.
Hiring continues, although companies reported the job of finding qualified workers is becoming more difficult, the M&T report indicated.
Other findings from M&T are as follows:
- Over half (52 percent) of respondents expect the U.S. economy to perform well over the next six months, while 22 percent see slower growth ahead.
- Company sales and capital investment plans were largely unchanged, while hiring intentions remain robust. A net 32 percent of mid-sized respondents plan to add employees by year-end, although tight labor markets are making it difficult for many firms to find qualified applicants to fill new positions.
- Commercial Real Estate firms are similarly optimistic about the broader economy, but are less positive about their industry. Only one-in-three respondents expect industry conditions to improve, while 15 percent see slower activity through year-end.
- Nearly two-thirds of respondents indicated that newly imposed tariffs on foreign goods would have a negative impact on the U.S. economy. However, respondents were more sanguine about the impact of such tariffs on their own business, with only 25% experiencing a negative impact.
Click here for the full M&T report.
The findings were in line with a semi-annual report PNC that had small and mid-sized businesses reporting strong conditions but took note of a “chill in the air” over trade and tariff issues.
Four out of 10 business leaders described their outlook for the national economy as optimistic, the second-highest rating in the 15-year survey. Pessimism remains at a historic low of 4 percent.
Nearly two-thirds ( of business leaders expect increased sales, dropping marginally from spring of this year.
Click here for the PNC report.