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The Latest Analysis
Business sentiment has strengthened in recent weeks, as global businesses have shrugged off the global trade war and other geopolitical threats. It is too early to conclude that this represents a sustained improvement in sentiment, but it is encouraging. Notably, the improvement in sentiment has been outside the U.S. Investment spending is strong, credit is amply available, and office-space absorption is as good as it has been since before the pandemic. But sales and hiring remain lackluster. Price pressures also appear to be developing, as an increasing share of respondents are increasing prices. The overall survey results are consistent with a global economy that is expanding at near its potential.