Vermont Business Roundtable/EPR Third Quarter Business Conditions Survey Released (August 2018)
Today, Lisa Ventriss, President of Vermont Business Roundtable (VBR) and Jeffrey Carr, President, Economic & Policy Resources (EPR), announced the Q3 of 2018 outlook results of their joint initiative, the VBR/EPR Business Conditions Survey and Index. More than three-quarters of respondents (77%) shared negative outlooks specifically with ease of hiring for available positions; an increase from the previous survey (72%). Slightly less than half of responses expressed a neutral outlook about the state’s overall business climate (48%); a slight improvement from the previous survey (50%). However, expected demand and capital spending for the next three months deteriorated from the previous quarter (49% and 51% neutral, respectively).
Mr. Carr of EPR stated that “Despite last quarter’s increase in business confidence, responses once again appear to be trending back towards neutral. Business leaders remain understandably cautious regarding to the near-term outlook with all of the political volatility in Washington, and as they work through their own issues with a tightening supply of workers as the unemployment rate drifts even lower. In the absence of a long-term and steady supply of available workers with the skill sets they need, Vermont businesses appear to be indicating that they are finding it difficult to commit to larger, long-term expansions.”
Vermont’s outlook appears to remain on a “neutral” trend, with only slight fluctuation. Given the responses from this and the previous survey, they continue to demonstrate that economic conditions overall are stable but not immediately leading towards expansion in many areas of the State and sectors of Vermont economy.”