The chief executives of Vermont s leading businesses seem cautious over capital expenditure and employment levels for the summer and fall when compared against expected increases in their sales volumes for that same time frame. In general, however, the attitude of the business community appears to have stabilized from the last quarter. The current mood was assessed at the end of June and released today by Vermont Business Roundtable Chair Bill Stritzler and President Lisa Ventriss.
Interestingly, in all three areas of sales, capital expenditures, and employment levels, our members responses appear to be slowly moving in a more positive direction, which suggests that employers may be starting to feel better about their future prospects, said Ventriss. Chair Stritzler, who is managing director of the Jeffersonville-based Smugglers Notch Resort, says the results of the CEO survey echo similar results of the National Business Roundtable. Though economic conditions are still difficult, conditions appear to be improving among our members and we re finding fewer negative outlooks.
The Roundtable s CEO Economic Outlook Survey provides a forward-looking view of the economic assumptions and attitudes of chief executive officers for 100 of the state s top employers. All sectors of Vermont s economy and all geographic regions are represented. The response rate for this quarter was 47 percent. Historically, rates have varied from 40 to 73 percent.
1. How do you expect your company s sales to change in the next six months?
Sales
INCREASE
NO CHANGE
DECREASE
Q1 2004
83%
13%
4%
Q2 2004
80%
15%
4%
Q3 2004
71%
25%
4%
Q4 2004
77%
22%
1%
Q1 2005
78%
19%
3%
Q2 2005
75%
23%
2%
Q3 2005
74%
24%
2%
Q4 2005
72%
24%
4%
Q1 2006
78%
20%
2%
Q2 2006
78%
22%
0%
Q3 2006
69%
25%
6%
Q4 2006
73%
23%
4%
Q3 2008
51%
35%
14%
Q4 2008
27%
46%
27%
Q1 2009
33%
30%
37%
Q2 2009
41%
31%
28%
Totals may not equal 100 due to rounding.
2. How do you expect your company s capital spending to change in the next six months?
Capital
INCREASE
NO CHANGE
DECREASE
Q1 2004
62%
30%
8%
Q2 2004
43%
41%
15%
Q3 2004
51%
42%
7%
Q4 2004
45%
46%
9%
Q1 2005
55%
37%
8%
Q2 2005
49%
43%
8%
Q3 2005
57%
38%
5%
Q4 2005
50%
35%
15%
Q1 2006
45%
45%
10%
Q2 2006
53%
40%
7%
Q3 2006
40%
50%
10%
Q4 2006
56%
39%
5%
Q3 2008
38%
42%
20%
Q4 2008
17 %
43%
40%
Q1 2009
12%
38%
50%
Q2 2009
17%
51%
32%
Totals may not equal 100 due to rounding.
3. How do you expect your company s employment to change in the next six months?
Employment
INCREASE
NO CHANGE
DECREASE
Q1 2004
57%
38%
4%
Q2 2004
50%
48%
2%
Q3 2004
59%
37%
4%
Q4 2004
58%
39%
3%
Q1 2005
55%
38%
7%
Q2 2005
49%
42%
9%
Q3 2005
49%
44%
7%
Q4 2005
60%
35%
5%
Q1 2006
54%
39%
7%
Q2 2006
50%
45%
5%
Q3 2006
43%
49%
7%
Q4 2006
53%
41%
5%
Q3 2008
40%
42%
18%
Q4 2008
25%
35%
40%
Q1 2009
23%
37%
40%
Q2 2009
21%
50%
29%
Totals may not equal 100 due to rounding.