According to the latest data from a Grant Thornton press release, which surveyed 3,200 business leaders in 44 countries, U.S. businesses are showing signs of optimism toward the nation’s economy.
This information coincides with previous data revealing an improvement in performance and stability across many business sectors. Stephen Chipman, chief executive officer of Grant Thornton, says in the release that the reasons for the positive outlook and increasing numbers are related to political issues such as the fiscal cliff and presidential election, which are no longer considered threats to the economy.
The report said business optimism, globally, is at its highest level since 2011.
Business leaders expect revenues to increase in 2013, and expect profitability to rise sharply in the first quarter. The report also noted that hiring expectations in the United States remain above average globally. Twenty nine percent of U.S. business leaders expect an increase in hiring during 2013. The report mentioned the possibility of a small hiring boom that leads to a stronger economy; with leaders expecting a rise in revenues, business would rise to meet supply as demand for products and services grow.
China and Japan saw an increase in optimism for business, as well, which could lead to more imports and exports for the United States, but the United States is building their trade relationships with other countries aside from East Asia. According to a White House press release, the United States is expecting to engage in talks with the European Union to secure a trade agreement called the Transatlantic Trade and Investment Partnership, which would strengthen trade and investment with Europe. The agreement gained steam after the High Level Working Group on Jobs and Growth suggested a trade agreement would stimulate job growth.
With business optimism increasing globally, business marketing and sales is expected to increase within the next 12 months. Chipman also states in the release that with such a large increase in optimism, it is “encouraging” as it relates to employment, “which is key to U.S. economic health.” Data for the press release was gathered from business leaders in multiple industries across the globe between January and February 2013.
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