Issue link: https://nebusinessmedia.uberflip.com/i/474766
Worcester Business Journal www.wbjournal.com 2014 Economic Forecast 5 2010 2011 2012 2014 Economic Outlook Survey How will the economy fare in 2014 compared to 2013? Do you think the Central Mass. economy is in better or worse condition than it was this time last year? Do you plan to hire additional staff in 2014? By what percentage do you expect your employee base to grow in 2014? ere's more optimism about the overall economy, with 66% saying things will improve in 2014, up from 57% last year. Businesses are just as bullish about the region's economy in 2014 as they are about the national economy. Employers are still somewhat tentative on adding jobs. Of those that plan to add jobs, it won't be by all that much. n 63 percent say business conditions are better today than they were a year ago, up from 53 percent last year. n For the first time since we launched the survey in 2009, most believe housing prices will rise in the year ahead. n Most businesses see bigger sales ahead in 2014, with one in every four seeing a jump of more than 10 percent. n There's more sentiment for relying on loans as a way to raise capital in 2014. Fiscal and business fortunes among Central Massachusetts business leaders are markedly more optimistic heading into 2014 than they were a year ago. Improve significantly ..................... 7% Improve slightly ............................ 50% Decline slightly .............................. 17% Decline significantly ....................... 6% Remain the same ......................... 20% Improve significantly ..................... 5% Improve slightly ............................ 49% Decline slightly .............................. 10% Decline significantly ....................... 4% Remain the same ......................... 31% Improve significantly ..................... 9% Improve slightly ............................ 51% Decline slightly .............................. 12% Decline significantly ....................... 1% Remain the same ......................... 28% 2013 Improve significantly ..................... 9% Improve slightly ............................ 57% Decline slightly ................................. 6% Decline significantly ....................... 4% Remain the same ......................... 24% Better 63% Better 53% Worse 17% Worse 22% Not sure 25% Not sure 20% 2013 2012 2013 2012 2011 2010 2010 2011 2012 2013 Yes 33% No 40% Don't know/ Too soon to tell 27% Yes 31% No 39% Don't know/ To oon to tell 30% Yes 31% No 46% Don't know/ To soon to tell 21% Yes 42% No 43% Don't know/ Too soon to tell 15% 1 to 3.9% 55% More than 10% 16% 4 to 6.9% 21% 7 to 9.9% 8% 1 to 3.9% 51% More than 10% 16% 4 to 6.9% 26% 7 to 9.9% 7% 1 to 3.9% 51% More than 10% 19% 4 to 6.9% 20% 7 to 9.9% 10% 1 to 3.9% 38% More than 10% 30% 4 to 6.9% 26% 7 to 9.9% 6% The most notable results? }