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Economists say the U.S. economy is rebounding despite political unrest in North Africa and the Middle East, according to a recent survey conducted by the National Association for Business Economics.
The survey, conducted from March 16-31, found that economists are hopeful that the economy is substantially improving, with rising employment reported for five consecutive quarters and no reports of significant layoffs.
The survey found that "companies appear to be positioning themselves for a firming economic environment," said Shawn DuBravac, an economist with the Consumer Electronics Association, who analyzed the findings.
Sales also increased for the third consecutive quarter as profit margins continued to improve. About 94 percent of economists surveyed predicted at least 2 percent growth for the U.S. economy in 2011. Prices rose as about two-thirds of the goods-producing industry, including construction and manufacturing, reported their firms had raised prices in the last three months. Similarly, the costs paid for materials rose for the third quarter in a row, and wages and salaries rose to the highest levels since a survey in October 2007.