Business confidence in San Diego dipped in November but remains in positive territory for the year, according to the latest monthly survey by the San Diego Regional Chamber of Commerce.
The Business Outlook Index, in which roughly 200 chamber members report on conditions they expect over the next three months, stood at 14.2 in November, down from 19.0 in October, but above the lowest point in the year — 13.2 in August.
The index started the year at 26 and has declined over the course of the year.
In the survey, chamber members say whether — over the next three months — they expect to increase or decrease the number of employees or the hours they work, expect higher or lower revenue, and experience a general improvement or wning of business conditions.
With zero being neutral, the index ranges from minus-100, or totally negative, to plus-100, completely positive.
“A bright spot this month is large businesses which boast a very healthy BOI of 31, up significantly from their three-month average of 18,” said Tom Wornham, president and CEO of San Diego Private Bank, which sponsors the survey. “This jump is mostly because these bigger firms are now optimistic about revenue and adding employees in the near term.”
Compared with October, fewer businesses anticipate business conditions will improve and more expect they will decline, according to the chamber. Many of the worries are tax-related, having to do with California’s increased levy on gasoline and the tax reform package before Congress.
City News Service contributed to this article.
>> Subscribe to Times of San Diego’s free daily email newsletter! Click hereFollow Us: