US DATA: NABE July industry survey taken Jun 14-26 suggests
“worsening economic conditions through increased flatness in sales and
profit margins, less upward pressure on employment, weakening optimism
concerning real GDP growth, and rising concerns about the impact of the
European crisis, potential US government spending cuts in January, and
the expiration of Bush-era tax cuts in December, although there are
fewer inflationary pressures… Over half of the panelists in the
current survey reported unchanged sales and unchanged profit margins.
Only 39% of panelists in the July survey reported rising sales and 29%
reported rising profit margins, which is much lower than the 60% of
panelists reporting rising sales in the April survey and the 40%
reporting rising profit margins. Optimism on real GDP growth has
weakened.” See MNI Main wire.