America’s CEOs are slightly more optimistic about the economy over the next six moths, according to a Business Roundtable survey released today.
The chief executives of leading companies expect increased sales and capital expenditures as well as more job creation compared to the third quarter.
The Business Roundtable CEO Economic Outlook Index increased to 84.5 from 79.1, with expectations for 2014 GDP growth at 2.2 percent, in line with the previous two quarters.
“CEO expectations for economic expansion in the next six months increased slightly from last quarter, with expectations for sales, capital investment and hiring all tracking somewhat higher,” Jim McNerney, chairman of Business Roundtable, and chairman, president and CEO of The Boeing Co. said in a news release.
“In aggregate, our expectations are consistent with an economy that will continue along the path of steady, modest recovery into the first half of 2014. These soundings are also consistent with an overall economy that, despite progress, is not yet performing at its full potential.”
Seventy-three percent of the executives surveyed said they expect their company’s sales to increase in the next six months, while only 8 percent foresee a sales decrease.
Thirty-nine percent said they will increase capital spending and 34 percent plan to increase hiring.
Click here for complete results of the Roundtable survey.
Metropolitan Knoxville employers plan to add new jobs at a “brisk pace” in the third-quarter, according to the latest Manpower Employment Outlook Survey.
Twenty-three percent of local employers surveyed said they plan to add new jobs during the July through September period, compared to 6 percent who plan to cut staff for a net gain of 17 percent of employers who plan to add workers.
Seventy-one percent expect to maintain current employment levels, Manpower reported.
Despite cuts in government spending and payroll tax increases, the state and national economies are poised for solid growth in 2014 and 2015, a University of Tennessee report says.
Driving the growth are improved job creation, surging vehicle sales and a recovering housing market, according to the spring 2013 Tennessee Business and Economic Outlook.
“The economy has finally found a firm footing,” Matt Murray, associate director of the UT Center for Business and Economic Research and the report’s author, said in a news release “This will be the third year of payroll employment growth and a falling unemployment rate following the Great Recession.”
Nationally, payrolls are expected to grow 1.5 percent this year and 1.6 percent in 2014, the report said.
Tennessee’s economy is “marginally healthier” than the national economy, but sluggish job growth continues to be a drag on the state and national economies, according to a report released today by the University of Tennessee’s Center for Business and Economic Research.
Nonfarm employment in Tennessee is expected to rise 1.7 percent this year, compared to 1.5 percent growth for the nation, the report says.
Tennessee’s unemployment rate is expected to average 7.8 percent for 2012 and drop to 7. 4 percent next year. The national unemployment rate is expected to average 8.1 percent this year and fall to 7.8 percent in 2013, according CBER’s spring 2012 Tennessee Business and Economic Outlook.
A pair of controversial Tennessee economic development projects are included in Site Selection magazine’s rankings of the most significant deals of 2010.
Site Selection released the rankings today.
An Electrolux plant in Memphis that would make ranges, wall ovens and cooktops is ($190 million and 1,200 jobs) is on the list of the Top Ten projects in North America last year. Earning Honorable Mention is Amazon.com’s plans for two distribution centers in the southeast corner of the state ($164 million, 1,400 jobs).
Despite the potential job creation, both projects have attracted criticism in recent weeks.