Add one more signal that the U.S. economy is slowing down.
Sales and profits are falling at more of America's biggest companies, according to the latest quarterly survey of a group of business economists.
The share of those reporting stronger sales dropped to the lowest level in seven years, according to the National Association for Business Economics. And, for only the second time since the end of the Great Recession, more respondents said profits were falling than those who said profits were rising at their companies.
The group also reported that the pace of hiring has slowed in the last three months. The number of economists who said their companies were adding jobs fell to the lowest level in two years. And fewer said they expect their companies to raise wages in the next three months.