According to the latest data, sales growth in the first quarter of this year has improved from the fourth quarter of last year. business survey From the National Association for Business Economics (NABE). His NABE members surveyed had a net sales increase index (NRI) (the percentage of rising sales minus falling sales) that he increased from 8 in the fourth quarter of 2022 to reported a jump to 30.
Forward-looking NRI also suggests sales will continue to grow, with the index rising from 5 to 25 in the first quarter.
Other findings from the survey include:
- Four in 10 respondents said their billing prices were rising, but this measure is down from 46% last quarter and 49% last year.
- Although many members noted a decline in profits (29%) rather than an increase in profits (22%), the NRI for this margin improved, rising from -25 in Q4 2022 to -8. bottom. Most respondents (58%) expected a change in profit margins in Q2.
- For the third consecutive quarter, 63% of respondents reported wage increases. None of the members reported that wages fell in Q1, and no one expects wages to fall in Q2.
- Employment NRI fell to zero, the lowest figure since negative figures were reported in mid-2020.
- Less than half of panelists (44%) believe there is a 50% or more chance of a recession within the next year.
