Survey: South Jersey business optimism increases

Posted: January 25, 2013

In spite of Hurricane Sandy, South Jersey businesses indicated a modest improvement in overall business activity during the fourth quarter, the Federal Reserve Bank of Philadelphia said Thursday in its latest quarterly South Jersey Business Survey.

Firms reported steady sales compared with the previous quarter, and employment among the firms polled continued to improve.

Of 76 companies responding, the bank said, 33 percent reported higher levels of business activity. That compared with 26 percent in the third quarter. Nearly 26 percent of firms reported declines in activity.

Overall optimism improved slightly from the previous quarter. The bank said 47 percent of firms expect conditions to improve over the next six months, compared to 12 percent that expect conditions to deteriorate.    - Reid Kanaley

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