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Richmond Events' US Business Panel Report - Economic Outlook Research

The latest Richmond Events' business panel is now available. Please read on for headline findings and to download the full report.


Headline Findings
  • 16% of the panel expect the economy to grow significantly over the next 12 months, with a further 57% expecting it to grow marginally. These figures are well up on last year (3% and 44% respectively).
  • The figures for 3 years’ time show even more optimism. 37% of the panel expect the economy to have grown significantly whilst a further 42% expect it to have grown marginally. 9% expect it to shrink a little and 3% expect it to shrink significantly.
  • On the whole, the panel seems far more positive about their own organization than they do about their wider industry sector. The highest proportion of the panel expects to see steady growth, clearly viewing their organization as superior to the 40% likely to ‘struggle’ within their industry sector.
  • Headcount - the highest proportion of the panel have increased headcount and may do so again, with a further 5% having increased it though not expecting to do so again. On the flip side, 20% have decreased and may do so again, with a further 6% having already decreased it, though not expecting to do so again.
  • The two areas that buck this trend are Sales and IT, with 44% and 49% respectively, of organizations looking to increase headcount in these areas, versus only 11% and 21% looking to reduce it.
  • 59% of the panel feel their revenues will increase over the next 12 months with 61% feeling their profits will do likewise.
  • 31% expect to see their budget increase compared to 23% who expect it to see it go the other way. The rest, 46%, don’t see it changing.
  • 20% of organizations expect to move some part of their business outside the US over the next 2 years. The most popular destinations are South / Central America and Western Europe.

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