|
|
|
Documenting Decline
|
Business New Haven
2/5/2001
By: BNH
|
Hartford - Two recent surveys confirm the pessimism of Connecticut business people about the economy.
A survey of purchasing managers commissoned by the Connecticut Business & Industry Association (CBIA) reveals that only 29 percent of respondents predicted that their industry performance would improve during 2001, while 37 percent said it would worsen. Additionally, only 17 percent of respondents said they believed the U.S. economy would worsen over the first year of the new Millennium.
Explained CBIA economist Peter M. Gioia: "Both confidence and actual purchasing activity have exhibited a substantial slowdown. While the results indicate the economy will come in for a soft landing, the considerable chance could mean that, for some companies, their landning may be a bit hard."
A survey by the state's Department of Economic & Community Development (DECD) asserts that, while Connecticut business people are still positive about the health of the state's and naton's economies over the next
few years, that confidence has eroded during the past three
months. Its "Business Climate Index" dropped to 63.7, down significantly from the previous quarter's 68.7 (the index
has a maximum score of 100, which would reflect complete confidencein the economy).
The overall mean ranking on the one-to-eight-point scale for the U.S. economy for tjhe first quarter of 2001 was 6.15, down from 6.54 rating posted in the previous quarter. The industry sector posting the most substantial decline was high-tech, which fell from a mean of 6.82 to 5.89.
|
Go FirstGo PreviousGo
NextGo LastGo
to Index
|
|
