MURFREESBORO, Tenn. — The Tennessee Business Barometer Index has
bested its record high just set the previous quarter, according to the latest online
survey of business leaders by MTSU’s Jones College of Business.
April’s index rose to 507,
up from 470 in January. 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.
“Overall, Tennessee business leaders are
growing in their optimism regarding the current and future economy,” reported Dr. Tim Graeff, MTSU professor
of marketing and coordinator of the index through the Jones College’s Office of Consumer Research.
Business leaders, however,
remain concerned about being able to find enough qualified employees.
“Expectations for short-term sales and
profitability are positive, tempered by concerns regarding long-term growth due
to decreasing expectations for business investment,” Graeff noted. “Moreover,
while many firms seek to grow and expand their employment base, it is clear
that business leaders are becoming increasingly frustrated at the difficulty
associated with finding qualified employees.”
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. Find the
full survey report and previous reports at http://www.mtsu.edu/consumer/reportsbarometer.php.
The largest gain in
sub-indices was seen in the Current Situation Index, improving to 216 from 186.
The overall index score 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.
The current survey of 97
business leaders from across Tennessee was conducted between April 3 and April
13. Respondents included business owners, vice presidents, senior managers, and
managers at firms of various sizes. The margin of error was 10 percentage
points. The next survey is planned for July.
For more information
about the MTSU Office of Consumer Research, visit www.mtsu.edu/consumer. For more information about the Tennessee Chamber
of Commerce and Industry, visit www.tnchamber.org.
For more information about the survey, contact
Graeff at 615-898-5124 or tim.graeff@mtsu.edu.
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