Online survey of state business
leaders shows preference for Trump on economy
MURFREESBORO, Tenn. — The
Tennessee Business Barometer Index shows an improved future economic outlook
among Tennessee business leaders, according to the latest online survey by
MTSU’s Jones College of Business.
The
quarterly index rose to 177 this month, up from 153 in July and 144 in April.
The
overall index score is totaled from four sub-indices measured in the
17-question survey: current economic situation, future economic expectations,
business/firm performance and employment outlook.
The latest survey showed
that while perceptions of the current
economy dipped slightly, business performance outlook remained steady, and the
Future Expectations Index rose significantly (from -2 to 25). Business leaders remain
concerned about being able to find enough qualified employees.
“Optimism
about the future of the economy can lead to increased investments and hiring,
which can have subsequent positive effects leading to growth in the overall
economy,” said 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. The inaugural survey in July 2015 registered an index of 325.
As
with the Consumer Outlook Index conducted by Graeff’s office last month, the
latest Business Barometer survey also asked questions about the top two
presidential candidates and respondents again showed a clear preference for GOP
presidential nominee Donald Trump over Democrat Hillary Clinton.
Asked
which candidate would have the most positive impact on the U.S. economy if
elected, 71 percent chose Trump, 12 percent chose Clinton, while 7 percent said
the impact would be the same and 10 percent were unsure.
The
current online survey of 73 business leaders from across Tennessee was conducted
Oct. 1-10. The margin of error is 11.4
percent. Respondents included business
owners, vice presidents, senior managers, and managers at firms of various
sizes. The next Tennessee Business
Barometer survey is planned for January 2017.
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