Business Confidence Reportedly at 2-Year High

Business confidence in the U.S. economy reached its highest level in more than two years in June, according to a U.S. Chamber of Commerce survey. The chamber’s Business Confidence Index rose to 58.9 last month from 56.5 in April. That’s the highest level since February 1995, when the index was 59. The positive reading means companies that expect better times in the second half of the year outnumber those that don’t. “Small businesses are expressing rising confidence because of the low-inflation, high-performance economy of the past several months,” said Robert D. Barr, chamber deputy chief economist. The survey found that executives expect steady economic growth in the next six months. However, they also said sales and hiring plans should taper off in the second half of the year. The every-other-month index is based on a survey of 4,016 business executives.