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Vermont CEOs Predict Deceleration in Sales, Capital Spending and Employment, Roundtable Survey Finds
The Vermont Business Roundtable's CEO Economic Outlook Survey for the third quarter of 2006 reveals cautious optimism, reflects challenges facing state.
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September 11, 2006 (FPRC) -- The Economic Outlook Survey of Vermont Business Roundtable members, CEOs of the state’s leading employers, expressed tempered optimism in the third quarter of 2006. 69% of CEOs expect an increase of sales in the coming six months, with 25% expecting no change and only 6% anticipating a decrease. The number of CEOs anticipating a decrease in sales rose 6% since the second quarter of 2006, but is only slightly above the 4% figure from the same quarter in 2005.
As the end of the calendar year approaches, 40% of Roundtable members expect capital expenditure to increase, 50% project no change, and 10% expect a decrease. The numbers suggest that business spending will remain sound in the months ahead.
Finally, the survey shows 43% of members expect to add jobs, 49% expect no change, and just 7% expect employment to decline. This appears to be in line with national trends—through the past four months job growth across the country has been weak as fuel prices and a slowing economy caused employers to put the brakes on hiring.
Lisa Ventriss, president of the Vermont Business Roundtable, is optimistic about the state’s ability to adapt to changing economic conditions. “It’s likely rising fuel prices, coming elections, and/or global unrest play a role in decreased expectations from Q2 to Q3. Overall, however, our outlook is strong.” She adds, “any downward trend needs to be watched closely, but Roundtable members see nothing that indicates a dramatic or prolonged decline in our economic strength.”
Since the first quarter of 2004, Roundtable members have been surveyed in each quarter regarding their short-term economic outlook. The Roundtable’s 111 members are polled via electronic and print surveys.
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The Roundtable is composed of 111 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 49,000 employees in virtually every county across Vermont.
A complete list of Vermont Business Roundtable members is available at: http://www.vtroundtable.org/Membership/tabid/187/Default.aspx
Send an email to Chris Falk of Vermont Business Roundtable
802-865-0410
Keywords:
vermont, business, CEO
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