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Richmond Events' Business Panel - Economic Outlook


Headline findings include:

  • Only 3% of the panel expect the economy to grow significantly over the next 12 months. However, just over half expect it to have shown some signs of growth (marginally).   
  • The figures for 3 years’ time are much more optimistic.  18% of the panel expect the economy to have grown significantly whilst a further 64% expect it to have grown marginally. Only 2% expect it to shrink a little.  
  • The highest proportion of the panel have either remained at the same level or will increase headcount this year.  A further ¼ have reduced headcount and may do so again whilst 11% have reduced headcount and don’t expect to do so again. 
  • 51% of the panel feel their revenues will increase over the next 12 months, whereas 45% 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. 
  • 20% expect to see their budget increase compared to 30% who expect it to see it go the other way.  The rest, 50%, don’t see it changing.
  • 10% of organizations expect to move some part of their business outside the US over the next 2 years.  The most popular destinations are Canada and South / Central America.
  • There is no overwhelming satisfaction with the Administration’s handling of the economy.  However the number thinking it’s been very good has improved from last year, from 3% to 11%.  Those thinking it’s been acceptable has fallen slightly to 29%.
View full report http://revents.info/l/6qF




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