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Connecticut's business leaders were seeing a few rays of sunshine on the economic horizon during the final quarter of last year.
The Connecticut Business and Industry Association, which conducts the quarterly survey, said 38 percent of state executives responding expected their own companies to show improved profits, up two points from a previous survey. And only 13 percent saw conditions worsening going forward, a decrease from the 23 percent who saw clouds ahead previously.
"The survey shows that while conditions are far from ideal, they are conducive to future growth," Peter Gioia, vice president and chief economist of CBIA, said in a statement.
On a national basis, Connecticut executives were even more upbeat. Seventy-three percent foresaw a stable or improving U.S. economy, up from 67 percent just a few months previously.
Other survey results showed that:
• 41 percent of those responding predicted production and sales boosts, while only 12 percent expected declines
• 20 percent saw jobs increasing, while 13 percent expected labor shrinkage.
• 55 percent said pay and benefits for employees would remain stable or fall, while 45 percent expected increases.
• Only 38 percent cited sales from exports, off from 48 percent in the previous quarter.
The survey was sent to more than 1,800 executives, with 204 responding. The margin of error for the survey was 6.9 percent.