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Ohio business leaders are still uncertain about an economic path forward

August 27, 2020

COLUMBUS, OH –The Ohio Chamber of Commerce Research Foundation released the findings of its quarterly Prosperity Pulse business leader survey today.  The 2nd Quarter findings of 2020 show:

  • The statewide Prosperity Pulse index measured at 93.0, a rebound from the previous low-water mark of 51 but indicating continued below-average economic conditions as the business community has gradually re-opened.
  • Hiring plans for the next quarter have sharply increased as businesses see demand rising in the future, but overall economic sentiment remains low.
  • Optimism about future economic health has risen to 69% of respondents, but still trails the 91-percent average of 2018-19.
  • Economic Uncertainty continues to be the top concern of business leaders, while Ohio’s Political Environment jumps into the top five in the wake of the turmoil on Capitol Square.

The Prosperity Pulse index rose from its historical low to a new reading of 93, tracking with the slow progress made in re-opening businesses across the state. We surveyed over 400 business leaders across Ohio and found that most are still uncertain what the future holds for the economy and for their operations.

“As Ohio’s economy has slowly churned back to life, the overall economic climate remains uncertain in the eyes of business leaders across the state,” stated Justin Barnes, Executive Director of the Ohio Chamber Research Foundation. “Respondents to our survey have indicated they expect to see continued below-average economic conditions as government response to the COVID-19 pandemic continues to adapt, while they remain committed to seeing their companies through this difficult period.”

The Prosperity Pulse index is calculated using five forward-looking factors: anticipated profits, anticipated hiring, open/available positions, anticipated capital expenditures and overall business economic outlook. The survey was conducted July 20-August 13, 2020, and 404 responses were received.

2nd Quarter Summary 

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