Do you like surveys? If the answer is yes, here's one on the state of the US economy conducted by the National Association for Business Economics.
The survey gives an overall summary -- that the economy is near a low point, Yet a small majority, 102 respondents, said that their firms had not yet hit bottom. In the words of Sara Johnson of IHS Global Insight: "The US recession is abating, but few signs of immediate recovery."
Industry demand is still narrowing in the second quarter of 2009, but still down from 2008. The Net demand index stands at -5 from the first quarter's -14. Last year's fourth quarter registered a -28.
Four major sectors were surveyed with financial services showing the strongest gain at +15. Contrast this to a reading of -90 for transportation, utilities, information and communication sectors.
The survey found that profitability was still weak in the second quarter.
There were more companies reporting declining profits than were reporting higher profits.
55% of those surveyed believe that the low point has not been reached. 14% of those surveyed said their profits would reach their bottom in 2010 or beyond. 45% said the worst was over.
36% of respondents said their firms cut jobs last quarter. Only 6% added jobs, an all time low for the 30 year survey. Those surveyed expect employment to pick up later this year.
Overall, the US economy is getting stronger, albeit at a very slow rate.
So you see any improvement in your area?
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Reader Comments (Page 1 of 1)
7-20-2009 @ 10:11PM
william lindblad said...
What is missing is -
How much did this rather stupid survey cost and whose idea was it?
Next week they will survey toilet paper usage. If it is up we all get to know one useless answer, if down, more of the same.
7-20-2009 @ 11:06PM
ShaunneyCakes said...
Surveys are the biggest bunch of marketing Bull-sh&* ever created. I could EASILY get 1000 people and make sure that the % i wanted gave me the result I was looking for. You just forget you asked certain people, easy as that. Not illegal, maybe unethical, but TONS of marketing firms do it. I don't think you can get an accurate stat with anything less then 50,000 polls randomly, yet evenly placed in all 50 states. NOT just the states that are still being HAMMERED by the recession like Michigan. If you ask 100 people in detroit if the recession is over... about 75% would say no... if you ask 100 people in a place with a booming economy, such as Baltimore, you would get 75% of people to say yes. What result do you want? Still in a recession...? Ok, 100 random people polled and 75% say that we are still in a recession.
Don't forget the disclaimer:
THIS SURVEY WAS CONDUCTED BY AN INDEPENDENT BS FIRM WITH A RANDOM CONSENSUS OF 100 POLLED INDIVIDUALS.