Sentiment about the year ahead fell sharply, reaching the lowest level since July 2022 and the second-lowest since September 2020.
Meanwhile, prices charged for goods and services "rose at the sharpest rate for just over a year," . . . Manufactured goods saw an "especially steep increase," associated with higher tariffs.
Chris Williamson, chief business economist at S&P Global Market Intelligence. "At the same time, price pressures intensified, creating a headache for a central bank which is coming under increasing pressure to shore up a weakening economy just as inflation looks set to rise."
Williamson added that confidence about business conditions in the year ahead has deteriorated, "largely thanks to growing concerns about the impact of recent government policy announcements."
(Then it discusses other recent surveys, e.g. Richmond Federal Reserve's survey of manufacturing, and the Philadelphia Federal Reserve's nonmanufacturing business outlook survey, and the Philadelphia Federal Reserve's manufacturing business outlook survey, all of which were at best dismal)
Powell said this week: "Businesses and households are saying in surveys that they are experiencing incredibly high uncertainty," (presumably "Powell" is Fed Chair Jerome Powell )
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