Vt CEOs see mixed economic future: sales up, jobs flat

Roundtable Releases Fourth Quarter, 2004 CEO Economic Outlook Survey
Results
So. Burlington, VT - Results from the Vermont Business
Roundtable's (Roundtable) Fourth Quarter, 2004 CEO Economic Outlook
Survey, show that over three quarters of responding CEOs are expecting
increases in company sales in the coming six months, which is a six
percent increase over the last quarter. Projections for capital spending
are down by a similar percentage and employment levels are flat when
compared to the previous quarter.
George Chandler, President & CEO of Hubbardton Forge in
Castleton and Jim Crook, CEO of IDX Systems Corporation in Burlington are
members of the Roundtable. When asked to comment on his CEO Economic
Outlook Survey responses, George Chandler stated that, "There appears to
be steady, though modest growth in the design and home furnishings
markets; however the number of domestic players are shrinking. Today
customer expectations can be met by any number of less expensive off-shore
competitors. Continuous investment in people, innovation and capital
improvements is our only edge if we want to continue to build, much less
maintain our current market share. Jim Crook said that he is also
projecting increases in company sales, capital spending and employment for
IDX over the next quarter because, "the need for health care information
technology is critical to solving the worldwide mandate of improved
patient care and lowering the costs of care."
The survey, modeled after the National Business Roundtable's
CEO
Economic Outlook Survey, was conducted in early October and enjoyed a 62%
response rate. The key findings which reflect the membership's outlook
for the next six months, include the following details:
* 77% of responding CEOs expect an increase in consumer sales, 22% see no
change, and 1% anticipate a decrease. [Third Quarter results: Increase
71%, No change 25%, Decrease 4%]
* 45% expect capital spending to increase in the next six months, 46% see
no change, and 9% anticipate a decrease. [Third Quarter results: Increase
51%, No change 42%, Decrease 7%]
* 58% expect employment to increase in the next six months, 39% see no
change, and 3% anticipate a decrease. [Third Quarter results: Increase
59%, No change 37%, Decrease 3%]
Created in 1987 as a nonprofit, public interest organization, the Vermont
Business Roundtable is
comprised of 120 CEOs of Vermont's top private and nonprofit employers
dedicated to making Vermont the best place in America to do business, be
educated, and live life. Member businesses employ over 47,000 employees in
virtually every county across Vermont.
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