47.6% of Businesses Reported Their Current Performance as Average in August 14 – 27, 2023
Biweekly Business Trends – United States – August 14 – 27, 2023
• The U.S. Census Bureau’s Business Trends and Outlook Survey conducted in August 2023 revealed that nearly half of respondents considered their current business performance as “average,” with about 20% rating it as “above average” and 11% as “excellent.”
• Looking ahead, the majority of respondents expected their business performance to remain “average” in the next six months, while 22% anticipated “above-average” performance and 8% expected “excellent” performance.
• When it comes to forecasting, approximately 34% of respondents felt confident in predicting their business performance for the next “4-6 months,” while 22% extended their horizon to “7-12 months,” and 17% believed they could predict beyond “12 months,” highlighting varying degrees of forecasting capabilities among businesses.