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Richmond Events Business Panel Report - Economic Outlook

Headline Findings include:
  • None of the panel expects the economy to grow significantly over the next 12 months, with just under half expecting it to show some signs of growth (marginal). 19% expect it to shrink.
  • The figures for 3 years’ time are much more optimistic. Just over ¼ of the panel expects the economy to have grown significantly whilst a further 52% expect it to have grown marginally.
  • 15% of the panel say they will increase headcount within their organization. Of the 54% who say they’ve reduced it, 39% may do so again.
  • 50% of the panel feel their revenues will increase over the next 12 months, whereas 47% feel their profits will do likewise. For this to be correct then it would suggest that organizations are going to have to find those profits from elsewhere; reduced headcount, tighter cash flow and general cost cutting are all likely to figure prominently.
  • 24% expect to see their budget increase compared to 40% who expect it to see it go the other way. The rest, 36% don’t see it changing.
  • 34% of organizations expect to move some part of their business outside the US over the next 2 years. The most popular destinations are South / Central America and India.
  • The Obama Administration - There is no overwhelming satisfaction with the Administration’s handling of the economy, with only 5% feeling it has been very good and 36% acceptable. The majority of the panel feel either it could have been better, 24%, or very poor, 35%.
  • In terms of their optimism for the US economy, 35% are optimistic and 65% not so. However these figures are more positive than for the world economy where 22% are positive and 78% are not!
For full report http://revents.info/l/6qg

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