3rd Quarter Prosperity Pulse Results.
The Ohio Chamber of Commerce Research Foundation released the findings of its quarterly business leader’s survey today. The Quarter 3 findings reveal the following:
- The statewide Prosperity Pulse moved down slightly from 5.1 to 5.0.
- The cause of the downward movement can be directly contributed to a decrease in capital investment this quarter. Capital investments were also projected to continue to decrease next quarter.
- Profit and workforce numbers were steady, and overall business expenses remained the same.
- 77% of business leaders feel good about Ohio’s economic climate.
- Concern levels over Ohio’s political climate, regulations and taxes noticeably decreased.
- Concerns with attracting qualified talent, productivity and overall expenses related to employees significantly grew in the third quarter.
The Prosperity Pulse is presented on a 1 to 10 scale and measures profits, workforce, capital investments and expenses to aggregate an index. Over 400 responses were received.
“Ohio business leaders remain optimistic in the third quarter and are optimistic about the fourth quarter even with decreased capital investments.” stated Katie Koglman, Executive Director. “For the first time this year we saw a heightened concern about data security. This shouldn’t be a surprise since 2017 has already surpassed the number of cyber hacks, leaks and breaches of 2016. It’s a very valid concern. Awareness and education about cyber-security is an important issue and there are resources available for businesses throughout the state of Ohio, including the Ohio Attorney General’s office.”
A high score of 9.1 – 10 would mean Ohio businesses were thriving and flourishing and economic health would be robust, while a low score of 1 – 2 would mean they’re encountering significant challenges and the economic health would be weak.