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Confidence up among Coast CEOs, business owners

MISSISSIPPI GULF COAST — The Gulf Coast Business Council Research Foundation has released its quarterly CEO and Business Owners Confidence report for the second quarter of 2013, and the numbers are encouraging.

“Our CEO’s and business owners have not expressed this level of confidence in the local economy since the first quarter of 2011,” said Jack Norris, president of the Gulf Coast Business Council.

Highlights of the study include:

• The overall measure of business confidence on the Mississippi Gulf Coast improved to 61 in the second quarter of 2013, up from 58 in the first quarter. A score of 50 would indicate respondents felt the economy was neither improving nor worsening.

• When asked about the current economy — as compared to the previous six months — the index reached its highest level in the six years which the survey has been administered with a score of 65.

• Notably, while respondents noted that the economy within their respective industry was improving, they were not as confident about their own industry as they were the overall economy.

• The sales tax base continues to grow, reinforcing the respondents’ collective opinion that the current economy on the Mississippi Gulf Coast is improving.

• Compared to recent surveys, a greater percentage of respondents (28%) indicated plans to bring on additional staff in the next six months.

The confidence survey was administered June 17 – June 28, 2013. Members of the Chambers of Commerce that serve all three counties of the Mississippi Gulf Coast as well as members of the Gulf Coast Business Council were surveyed. The respondents totaled 81.


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One comment

  1. They must be interviewing business owners who are awarded Govt. Contracts. If so, that isn’t an accurate gauge of the real economy, that is the Govt. spending money they don’t have on things that don’t really matter just to create a job. I’m a private business owner and I can assure you that everyone in my industry and some local bankers I’ve spoken with are not so optimistic. We actually see the opposite. We’re working harder than ever to make less money, prices on just about everything from food to fuel are a sign of hidden inflation. I would love to be wrong and The Gulf Coast Business Council Research Foundation be right. I can only assume this foundation is Govt funded as well. I guess only time will tell.

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