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Richmond Events US Business Panel Research - US Economic Outlook Report

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

Headline Findings

  • Only 3% of the panel expect the economy to grow significantly over the next 12 months, whereas just less than ½ expect it to have shown some signs of growth. Of
    the remaining, just over a third expect the economy to stay much the same as now
    in the same time period, whilst 15% expect it to shrink a little and 2% shrink a lot.
  • The figures for 3 years’ time show more optimism. 17% of the panel expect the
    economy to have grown significantly whilst a further 63% expect it to have grown
    marginally. Only 8% expect it to shrink a little, yet 4% expect it to shrink
  • There’s little optimism for the panel’s own industry sector, with the highest
    proportion, just over a third, not expecting much change, closely followed by those
    not expecting it to do (quite) well.
  • On the whole, the panel seems far more positive about their own organization than
    they do about their wider industry sector, with the highest proportion expecting to
    see steady growth.
  • The highest proportion of the panel have reduced headcount and may do so again,
    with a further 10% having reduced it though not expecting to do so again.
  • The one area that bucks this trend is Sales, with 52% of organizations looking to
    increase headcount in this area, versus only 18% looking to reduce it. Marketing is
    the only other area with a higher increase than decrease.
  • 64% of the panel feel their revenues will increase over the next 12 months with
    57% feel their profits will do likewise.
  • Only 22% expect to see their budget increase compared to 26% who expect it to see
    it go the other way. The rest, 51%, 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 India.

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