Hiring and capital spending is back on the mend according to latest data from the National Association of Business Economics (NABE).
Also, profit margins expanded for the first time in seven quarters, inventories are coming down, and less businesses are reporting credit problems.
NABE: The percentage for firms adding jobs doubled from an all-time low of 6 per cent in July to 12 per cent in October. Respondents expecting their firms to add employees over the coming six months exceeded the number expecting job cuts for the first time since the recession began.
For the first time since October 2008, more respondents reported a rise in capital spending over the prior quarter than a decrease. Expectations for future capital spending improved for the fourth straight quarter and turned positive, on balance, for the first time in a year. As in the past two surveys, expectations were positive for spending on computers and communications equipment but negative for structures.