Business confidence remains above the “no growth” line---indicating precarious but sufficient performance.
WE 6/20, World Economics, "United States Sales Indexes Show High Interest Rates Cutting into Growth in May," https://www.worldeconomics.com/SalesManagersIndex/UnitedStates/UnitedStatesOfAmerica.aspx
All US Sales Managers Indexes exhibited significant growth in June. All Indexes remain over the critical 50 ‘no-growth’ line, so the overall picture is positive, reflecting a wide spectrum of increasing economic activity.
Both the Sales Growth and Market Growth Indexes moved sharply upwards, to 52.9 and 53.6 respectively, indicating rapid growth in the month.
[Table Omitted]
The overall Sales Managers Index rose to an 8 month high.
The bad news is that Price Inflation remains stubbornly high, with the Sales Managers Price Index rising to 55.4 in June from 54.8 in the previous month. And this despite the Federal Reserve’s recent efforts at keeping price inflation in check by several significant rises in interest rates.
Sales Managers Index Components
[Table Omitted]
Business Confidence
50.7
June 2023
The Business Confidence Index increased 0.7 index points in June.
The Business Confidence Index measures the level of optimism/pessimism among sales managers for future conditions.