A monthly survey of more than 200 San Diego Regional Chamber of Commerce members found increased optimism in December, thanks to revenue gains, according to results released Thursday.
with a small monthly contribution
Following declines in the chamber’s Business Outlook Index in October and November, last month showed a 6.7-point gain to 23.3.
The outlook is scaled from negative-100 to positive-100, with zero being neutral. The index has generally hovered in the 20s since its inception in August 2013.
“This regained optimism is a great indicator that our county’s businesses are back on track for a more prosperous first quarter,” said Dino D’Auria, executive vice president and chief banking officer at Silvergate Bank, which sponsors the survey.
Half of those surveyed believe revenue at their company will increase during the first quarter of 2016. Only 43 percent believed that in the prior two months.
The study also found that 53 percent see prospects in their particular industry as improving, up from 42 percent.
During the same period, the percentage anticipating negative outcomes for each of those metrics decreased, according to the outlook. There was no change in anticipated hiring or in the number of work hours firms will offer their employees.
The least optimistic chamber members were in the restaurant and hospitality industry, which registered an index level of 4.
The chamber said nearly one in five eatery and hotel members reported that the increase in the state’s minimum wage from $9 an hour to $10 an hour will create problems for them. The hike took effect Jan. 1.
— City News Service
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