Business economists say gains disappearing

7/17/2012

DALLAS — Sales and profit gains of early this year are disappearing, a survey released Monday by the National Association for Business Economics found.

Forty percent said the economy will grow 2 percent or less over the next year. Three months ago, only 23 percent were that cautious.

The quarterly survey of 67 economists who work for companies or industry trade groups also found less evidence of hiring. Twenty-two percent of respondents reported rising emplomment in July, down from about 30 percent in the last three surveys and 42 percent a year ago. Nine percent said employment was falling. The rest said it was unchanged.

Thirty-nine percent reported rising sales at their companies, down from 60 percent in April.