WASHINGTON (AFX) - Almost all business sectors are registering a recovery for the first quarter, the National Association of Business Economics said. "Economic recovery is clearly evident in all industries except the transportations, utility, communications industry," NABE said in a statement on its quarterly survey of conditions at its member businesses. A growing number of firms reported rising profit margins, with the survey showing the biggest positive swing in its profits index since 1983. A net 16 pct of firms said improved pricing, low cost pressures, and productivity gains have driven margins higher, for the first positive net margin in seven quarters. NABE said a growing number of companies plan to raise their capital spending, with 48 pct reporting plans to boost capital expenditures. The survey suggests "the bottom in the capital spending cycle is at hand," NABE said. Although employment levels declined at member firms in the first quarter, "hiring plans now indicate the decline in employment will end in the near future." More than half of the 136 NABE members surveyed said US GDP growth is expected to exceed 2.0 pct in the first half of the year. This is a sharp improvement from the previous forecast, in which 40 pct of respondents expected a contraction in GDP in the first half.