By Josh Wolford - Wed, 09/28/2011 - 3:18pm.
Quarterly confidence report looks grim
It appears that small to mid sized business CEOs aren't very optimistic about the pace of economic growth, in fact they expect the current economic situation to persist looking forward at least a year.
Vistage has released their quarterly CEO Confidence Index - a survey consisting of 1,710 CEOs from notable small and mid-sized businesses. The overall Confidence Index that was assigned to this quarter's results was 83.5, which is down from 92.9 in Q2, which itself was down from 105.2 in Q1. This is the lowest confidence level that the survey has reported in two years.
Where would you say your confidence in the economy sits right now? Let us know what you think.
Here are some interesting stats from the survey:
Vistage has released their quarterly CEO Confidence Index - a survey consisting of 1,710 CEOs from notable small and mid-sized businesses. The overall Confidence Index that was assigned to this quarter's results was 83.5, which is down from 92.9 in Q2, which itself was down from 105.2 in Q1. This is the lowest confidence level that the survey has reported in two years.
Where would you say your confidence in the economy sits right now? Let us know what you think.
Here are some interesting stats from the survey:
- 40% of CEOs said that economic uncertainty is the most pertinent issue that they are dealing with right now. That's more than rising healthcare cost, cash flow, and political uncertainty combined.
- 39% of the CEOs surveyed thought the economy has either gotten worse or remained unchanged from last year. 79% of CEOs expect the economy will get worse or stay the same in the coming year.
- Despite this, 92% said that the expect their sale revenues to increase of stay the same in the upcoming year and 47% said their "profitability" will improve.
The survey also asked the CEOs who they thought was to blame for the economic conditions. The feeling was nearly unanimous that there is a "lack of leadership" in Washington D.C right now. 99% of those surveyed said so.
Half of the CEOs felt that both the Republicans and Democrats are to blame. 33% though the Obama administration was to blame. Only 2% thought that Democrats in congress were to blame.
What do you feel about the current economic situation? Is uncertainty a big issue with your business? Let us know in the comments.
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