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Coming Up Roses
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Business New Haven
2/18/2002
By: BNH
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Connecticut's purchasing managers are more optimistic than they were 12 months ago regarding the outlook for both the overall economy and their own industries, according to a survey by the Connecticut Business & Industry Association (CBIA) and the Connecticut Association of Purchasing Management (CAPM).
“There has been a remarkable upswing in confidence since last quarter,” says CBIA Economist Peter Gioia.
About 42 percent of respondents said they expect the economy to improve during 2002, compared to 27 percent last quarter. But 40 percent expect conditions to remain the same, compared to last quarter's 24 percent, and only 19 percent of respondents anticipate the economy will worsen through 2002, compared to the previous 49 percent.
When asked about their own industry, 46 percent said they expect better conditions ahead while 34 percent predict the same conditions, and 21 percent anticipate worsening conditions through 2002. Last quarter, 36 percent saw worsening conditions compared to only 30 percent predicting improvement and 34 percent calling for the same conditions.
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