Businesses were more likely to boost pay in the fourth quarter and confidence in U.S. growth continued, even as sales and profit growth flattened.
A quarterly National Association for Business Economics survey released Monday found that 49 percent of firms reported raising salaries or wages in the quarter. Of the 148 respondents, 47 percent said sales rose in the same period, slightly down from 51 percent in the previous quarter.
The survey was conducted in December, one day after the Federal Reserve voted to raise its interest rate target for the first time in more than nine years. The results come as recent energy sector pain, manufacturing weakness and other data raise concerns about the U.S. economy despite a solid string of job growth.