Online survey of business leaders shows
lingering mixed views about economy
MURFREESBORO, Tenn. — The latest Tennessee Business Barometer Index
showed continued improvement in the overall outlook of Tennessee business
leaders but growing concerns about the future of their firms, according to the latest
online survey by MTSU’s Jones College of Business.
The index rose to 153 in
July, up from 144 in April. The inaugural survey in July 2015 registered an
index of 325.
The latest uptick in the
index “was due to business leaders’ increasing optimism regarding their
individual firm or business even though they have become more pessimistic about
the future of the economy,” according to Dr. Tim Graeff, MTSU professor of marketing
and coordinator of the index through the Jones College’s Office of Consumer Research.
The quarterly index is a
collaboration between Middle Tennessee State University and the Tennessee
Chamber of Commerce & Industry to capture the mood and outlook of business
leaders. The index is computed by adding the percentage of positive responses
to each question and subtracting the percentage of negative responses.
Graeff noted that the
latest survey showed optimism regarding individual firms and businesses, which
can lead to increased investments, hiring and growth in the overall economy.
The overall index score
is totaled from four sub-indices: current economic situation, future economic
expectations, business/firm performance and employment outlook. The latest survey showed that perceptions of the current economy have
leveled off, while the Future Expectations Index dropped noticeably, he said.
But business leaders “are much more upbeat” about their individual businesses
and employment outlook remained relatively stable.
The current online survey
of 59 business leaders from across Tennessee was conducted between July 6 and
July 18. The margin of error is 12.7 percent. Respondents include business owners, vice
presidents, senior managers, and managers at firms of various sizes. The next
survey is planned for October 2016.
A pdf copy of the full
report is available at http://bit.ly/tbbjul16. Previous reports are
available through the MTSU Office of Consumer Research’s website at www.mtsu.edu/consumer.
For more information, contact Graeff at
615-898-5124 or tim.graeff@mtsu.edu.
For more information about the Tennessee Chamber of Commerce and Industry,
visit www.tnchamber.org.
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