08.10.2017
The VBR/EPR Business Conditions Survey for the second quarter/third quarter of 2017 has been released. About half of the responses to the question about the state’s overall business climate outlook were neutral (48%). The remaining responses were split between positive (28%) and negative (25%). About 71% shared negative outlooks specifically with ease of hiring for available positions compared to 74% in the previous survey. The information sector had the most optimistic outlook on the general business climate while the health care sector had the least optimistic outlook. Compared to the national Business Roundtable CEO Survey Vermont companies are predicting lower capital spending plans and a more neutral or stable employment outlook than their national counterparts.
For this reporting period the diffusion index shows a slide back to neutral from Q2 2017 to Q3 2017 indicating that Vermont CEOs continue to feel uncertain about the business climate in many areas of the State and sectors of the Vermont economy for the coming three months. Based on the highest frequency of comments respondents expressed concern about finding qualified employees challenging workforce demographics the affordability of Vermont and uncertainty regarding healthcare.
The Business Conditions Survey is conducted in partnership between the Vermont Business Roundtable and Economic & Policy Resources. The nine question survey of the approximately 100 members of the Vermont Business Roundtable captures a glimpse of how Vermont business leaders see the state economy. The survey asks business leaders how their businesses have fared in the recent past and how they view the future. Sentiments regarding the current and expected business climate and the expected impact on hiring and investing decisions are also surveyed. Included in the standard survey is a question asking roundtable members for opinions on a current debate in public policy. Along with providing a snapshot of the Vermont business climate the survey allows Vermonters to see how these markers change over time.
The press release is available as a PDF below.
