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US Data: Atlanta Fed Survey of Business Infl Expectations>

Source: Federal Reserve Bank of Atlanta
Projecting ahead, to the best of your ability, please assign a percent
likelihood to the following changes to unit costs over the next 12
months:
                                                              Up
                       About          Up           Up       Very
             Down       Unch    Somewhat Signifcantly Significant     Mean
             <-1% -1% to +1%  1.1% to 3%   3.1% to 5%        >5%
2019
March           5%        23%         46%          20%         6%      1.9%
February        7%        23%         44%          18%         7%      1.9%
January         6%        21%         46%          19%         7%      2.0%
2018
December        4%        17%         47%          22%        10%      2.3%
November        5%        20%         42%          22%        10%      2.2%
October         4%        18%         47%          22%        10%      2.3%
September       4%        20%         48%          20%         8%      2.2%
August          5%        21%         44%          23%         7%      2.1%
July            4%        23%         47%          19%         7%      2.1%
June            4%        20%         48%          20%         8%      2.1%
May             5%        21%         45%          20%         6%      2.0%
April           4%        20%         43%          22%        10%      2.3%
March           3%        24%         45%          19%         9%      2.1%
February        3%        22%         45%          21%         6%      2.0%
January         4%        25%         46%          19%         6%      2.0%
How do your sales levels compare with sales levels during what you
consider to be "normal" times?
             Much   Somewhat       About     Somewhat       Much Diffusion
             Less       Less      Normal      Greater    Greater    Index*
2019
March           4%        29%         39%          26%         3%        -2
February        6%        21%         50%          22%         1%        -4
January         6%        25%         43%          25%         1%        -5
2018
December        6%        32%         40%          20%         2%       -10
November        9%        22%         38%          29%         2%        -4
October        10%        18%         50%          21%         2%        -6
September       8%        22%         47%          23%         1%        -6
August          5%        21%         46%          27%         0%        -2
July            5%        25%         42%          24%         5%        -1
June            4%        22%         46%          26%         2%         0
May             5%        21%         41%          28%         3%         1
April           5%        18%         47%          29%         1%         1
March           4%        23%         39%          30%         3%         2
February        3%        21%         41%          29%         3%         5
January         4%        25%         44%          24%         3%        -1
How do your current profit margins compare with "normal" times?
             Much   Somewhat       About     Somewhat       Much Diffusion
             Less       Less      Normal      Greater    Greater    Index*
2019
March           7%        31%         47%          15%         0%       -15
February        7%        33%         47%          13%         0%       -17
January        11%        35%         41%          13%         0%       -22
2018
December        6%        38%         46%          10%         0%       -20
November       10%        32%         45%          11%         1%       -19
October        10%        32%         42%          16%         1%       -17
September       8%        34%         46%          12%         0%       -18
August          5%        32%         50%          13%         0%       -14
July            4%        28%         51%          15%         2%        -8
June            5%        27%         55%          12%         0%       -13
May             4%        32%         44%          17%         0%       -12
April           5%        33%         47%          15%         0%       -14
March           4%        33%         47%          16%         0%       -12
February        4%        26%         52%          14%         1%        -9
January         6%        28%         52%          14%         0%       -13
Looking back, how do your unit costs compare with this time last year?
                       About          Up           Up         Up
             Down       Unch    Somewhat Significantly     A Lot      Mean
             <-1% -1% to +1%  1.1% to 3%   3.1% to 5%        >5%
2019
March           4%        19%         56%          17%         4%      2.0%
February        2%        28%         51%          14%         6%      1.9%
January         2%        18%         59%          15%         6%      2.1%
2018
December        2%        16%         57%          18%         7%      2.2%
November        4%        18%         52%          19%         7%      2.2%
October         2%        17%         57%          14%         9%      2.2%
September       2%        18%         64%          10%         6%      2.0%
August          2%        19%         60%          13%         5%      2.0%
July            1%        26%         58%          11%         5%      1.9%
June            1%        20%         59%          17%         4%      2.0%
May             3%        18%         61%          10%         6%      1.9%
April           1%        17%         64%          12%         7%      2.1%
March           3%        21%         61%          11%         4%      1.9%
February        0%        24%         62%           8%         4%      1.8%
January         1%        18%         68%           9%         5%      2.0%
*The diffusion index is calculated as an average response such that each
response of much less is assigned a value of -100; somewhat less is
assigned a value of -50; about normal, 0; somewhat greater, 50; and much
greater, 100. Therefore, a positive index value implies that the
indicator is greater, on average, and a negative index value implies
that the indicator is lower, on average.
      ** MNI Washington Bureau (202) 371-2121 **
[TOPICS: MAUDT$,MTABLE,M$U$$$]

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