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Ohio business leaders see continued improvement in the economy but show concern that tougher months may be ahead again.

November 18, 2020

COLUMBUS, OH –The Ohio Chamber of Commerce Research Foundation released the findings of its quarterly Prosperity Pulse business leader survey today.  The 3rd Quarter findings of 2020 show:

  • The statewide Prosperity Pulse index measured at 104.0, continuing a rebound from the difficult economic landscape of the spring, while still showing room for improvement.
  • Each of the five components either remained level or showed slight gains, but overall economic outlook remains low, with just one in three respondents expecting a better quarter ahead.
  • Optimism among respondents for the future of their companies rose to a mark of 79%, tracking with the overall index for continued improvement.
  • The Cost of Healthcare and Economic Uncertainty are nearly tied among respondents for the highest concerns among business leaders, reflecting a continued anxiety about public health response to the coronavirus.

The Prosperity Pulse index maintained its climb from the harsh conditions earlier this year, with the new index reporting slightly above-average economic conditions overall. We surveyed over 400 business leaders across Ohio and found that while much has improved in the last six months, there are still plenty of concerns about what lies ahead.

“What the Prosperity Pulse results show this quarter is a belief that we are continuing to make improvements in how the business community and the public adjust to the realities of the pandemic,” stated Justin Barnes, Executive Director of the Ohio Chamber Research Foundation. “However, there is plenty of concern expressed among respondents to our survey that we are not out of the woods yet, and unless and until there is a clear path forward, business leaders remain uncertain about the future.”

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 October 8-30, 2020, and 404 responses were received.

3rd Quarter Summary

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