Business economists more upbeat

A survey of business economists found optimism had increased at U.S. businesses despite slowing sales in the second quarter. In the quarterly survey conducted by the National Association for Business Economics, 29 percent of respondents indicated that payrolls were higher in the second quarter compared to the first, which is the highest percentage since the fourth quarter of 2011. Twenty-nine percent was also a sharp jump from last quarter when 22 percent indicated payrolls were higher than the previous quarter. The Los Angeles Times reported Monday 72 percent of the respondents indicated they expected economic growth to exceed 2 percent in the next four quarters, a gain from the 65 percent from the previous survey. "Despite mixed signals regarding second-quarter business conditions, NABE's industry survey panel remains upbeat about the future," said Timothy Gill, chairman of the group's industry survey committee.