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CBIA Survey a Real Gas
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Business New Haven
4/17/2000
By: BNH
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HARTFORD - The Connecticut Business & Industry Association (CBIA) recently mailed 2,000 economic surveys to business executives to solicit their opinions on Connecticut's current economic situation. The business group received 411 returned surveys. An overwhelming 76 percent of business leaders felt that gas and oil prices have “significantly” or “somewhat” negatively impacted their businesses. Only 21 percent said the prices had no impact, while three percent believed it was having a positive effect.
Regarding the lending climate, eight percent of respondents said access to capital was excellent, 61 percent good, 30 percent fair and one percent poor. When it came to their own company outlook, 53 percent expected to see improvements over the next three months, 36 percent see their own company performance as stable, and 11 percent foresaw some decline over the next three months. Nineteen percent projected improvement in the Connecticut economy over the next three months. One year ago, 27 percent were optimistic about the overall outlook.
More than half of respondents predicted that Connecticut's economy would remain stable, but 22 percent foresaw some type of decline in the economy in the next three months. In the last quarter, only 12 percent predicted a decline.
On the national level, only 16 percent predicted improvement in the economy, compared to 50 percent predicting improvements in the last quarter. On a more optimistic note, 63 percent of those responding predicted that the national economy would remain stable.
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