As of August 1 business conditions experienced a slight upturn, which was something of a relief after 5 consecutive months of decline. However, levels of uncertainty and caution were reflected in three subordinate indicators (see below). Confidence is required for hiring and capital spending commitments, and both of these indicators were negative. Our respondents also reported rising concerns about the price and availability of financing, but this survey preceded the Congressional vote to raise the Federal debt limit.
Visit our website to view the Survey of Business Conditions Report and to read our Executive Commentary.