Survey charts uptick in business optimism
HARTFORD — Connecticut's economy is showing some signs of improvement, but issues at the international and national levels remain concerns, according to a new statewide survey of companies.
The Connecticut Business & Industry Association's fourth quarter 2011 economic survey found that businesses were more optimistic in the fourth quarter than they were in the previous three-month period.
Among CBIA’s key performance indicators:
• 47 percent of respondents expected increased production and sales for the next quarter, up from 35 percent in the third quarter;
• 46 percent of respondents said they anticipated future gains in productivity and wages;
• 23 percent expected to add workers compared to the 13 percent who said they expected to pare their workforce over the next quarter. That compares favorable to Q3, when only 16 percent said they expected to add positions and 22 percent expected to cut jobs.
"The fourth quarter survey was a welcome change to the results of our third quarter report," says CBIA economist Peter Gioia. "While too early to determine a trend, the survey shows optimism for growth on par with a steady economic recovery."
The survey also saw executives expecting more growth nationally first, then locally. Thirty-seven percent of respondents said there expected the U.S. economy to improve, ambien generic 19 percent expected further worsening. Although still better than last quarter, expectations at click here state level are weaker. Twenty-three percent of respondents see the state economy improving while 34 percent expect continued deterioration.
"While this survey shows business leaders are beginning to gain confidence, there are challenges to be met going forward,” Gioia says. “That's why it's important for our policymakers to continue to lean the cost of state government, reform public education, reduce and address barriers to economic growth, and modernize state infrastructure.”
Conducted by the state’s largest business organization, CBIA's fourth quarter 2011 economic survey was emailed to 1,950 Connecticut businesses in early January. A total of 216 executives responded, an 11-percent response rate that yielded a margin of error of plus or minus 6.8 tramadol generic.
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