The chief executives of Vermontâ s leading businesses demonstrated increasing optimism in their economic forecasts for the coming six months, improving on results from the previous survey. The survey, which was completed between March 9 and March 23, was released today by Vermont Business Roundtable Chair Steve Voigt, CEO, King Arthur Flour and President Lisa Ventriss.
Key findings from the first quarter of 2012 over the fourth quarter of 2011 include:
An expected three percent increase in company sales;
An expected three percent increase in capital spending;
An expected six percent increase in stable employment levels
6 Months Forecast
2012 Q1
Increase
2012 Q1
No Change
2012 Q1
Decrease
Quarterly % Change
Increase
2011 Q4
Increase
2011 Q4
No Change
2011 Q4
Decrease
Sales
67%
25%
9%
3%
64%
27%
9%
Capital Spending
43%
53%
4%
3%
40%
54%
6%
Employment
36%
55%
9%
-7%
43%
49%
8%
â The Roundtableâ s survey results indicate an increasing degree of optimism in the economy when compared against the previous quarter,’said Steve Voigt, Chair of the Vermont Business Roundtable and President and CEO of King Arthur Flour. â At the same time, there are several factors at play that could impair greater economic expansion in Vermont, including transportation fuel prices, health care reform efforts, a political election year, and the lingering effects of last yearâ s Tropical Storm Irene.â
The response rate for this quarter was 62 percent. Historically, rates have varied from 35 to 73 percent. The Roundtableâ s CEO Economic Outlook Survey provides a forward-looking view of the economic assumptions and attitudes of chief executive officers of 118 of the stateâ s top employers with an aggregate economic impact of $292 billion, with over $1.8 billion in global corporate philanthropy, and employing more than 10 percent of the stateâ s workforce. The members represent Vermontâ s agriculture, construction, education, health services, finance, real estate, insurance, hospitality/leisure, manufacturing, information, utilities, professional/business services, wholesale trade, and non-profit industries.
Vermont Business Roundtable(South Burlington)4.3.2012