The San Diego Regional Chamber of Commerce’s survey of area business optimism, released Wednesday, rebounded to close to its average level one month after hitting a new low.
The chamber’s business forecast has swung back and forth dramatically most of this year, a trend that continued with results of a mid-November survey of 200 chamber members. They were asked whether, in the next three months, they expect to increase or decrease the number of employees or hours they work, earn more or less revenue, and experience better of worse business conditions.
The index ranges from 100, completely optimistic, to minus-100, or totally pessimistic, with zero being neutral. Last month, the survey produced a score of 18 — near average — after dropping to 9 the month before.
Chamber officials suggested the low point was a by-product of the “rancorous” presidential election campaign.
“With the election season behind us, the San Diego business community has regained optimism and is looking ahead to 2017 with the outlook just a point shy of the year-long average of 19,” said Dino D’Auria, executive vice president and chief banking officer at Silvergate Bank, which sponsors the survey.
“While there are many pressures on businesses going into 2017, this improved outlook is a good indicator that county businesses are prepared for the road ahead,” D’Auria said.
Half of the businesses questioned believe the situation in their industry will get better, the highest since March. Those that expect to add employees, as well as those that say they’ll expand their workers’ hours, rose 10 percent.
The strongest gains came from small- and medium-sized businesses and those in the city of San Diego.
—City News Service
