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2003 Economic Conditions Survey

Source: www.amanet.org
Topic: Economic Conditions

Sort Desciption: 2003 Economic Conditions Survey. American business people are more pessimistic about the U.S. economy than. they were one year ago and are anticipating job ...

Content Inside: 2003 Economic Conditions Survey American business people are more pessimistic about the U.S. economy than they were one year ago and are anticipating job eliminations hiring freezes and cutbacks. And more than 60% believe that conflict in Iraq will have at least a moderate impact on their businesses. These findings are from American Management Associations 2003 Economic Conditions Survey conducted among 370 members and customers in February and March. Looking back Half (50%) of respondents reported that in 2002 their organizations did not match the revenue targets set. Nearly 3 in 10 said they met their targets and 21% exceeded targets. While generally indicative of a poor economic year the performance numbers were marginally more positive than those reported in last years survey about performance in 2001. Q. How did your company perform last year? 2003 2002 Did not match revenue targets we set 50% 58% Met our revenue targets 29% 23% Exceeded our revenue targets 21% 19% Current Outlook People are more pessimistic about the economy than last year. Nearly half of respondents think the economy is declining. This is up from 38% who saw a decline one year ago. Only 7% say the economy has improved versus 14% who saw growth last year. Q. What is your personal opinion of current economic conditions in the U.S. vs. conditions in the second half of 2002? 2003 2002 Economy is declining 49% 38% Economy has remained the same 44% 48% Economy has improved 7% 14% Respondent pessimism carries over to expectations for the performance of their own firms in 2003. Nearly two-thirds predict the same or lower performance. Nearly as many companies have lowered expectations (27%) as have raised them (36%). One year ago more than twice as many firms were looking to grow (46%) than pull back (20%). Q. Compared to last year how does this year look? 2003 2002 Optimistic and predict a higher rate of performance 36% 46% Trying to maintain the same projections. 37% 34% Lo ...

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