San Diego Business Journal

Survey Shows Businesses’ Confidence Waning

Tuesday, October 22, 2013

An index tracking the confidence of San Diego businesses called the San Diego County Business Forecast fell to its lowest point in the last three months, dropping from 28.2 in July to 25.2 as of mid-September, according to a report from the San Diego Regional Chamber of Commerce.

In the October report released earlier this month, the majority of the businesses responding said they expected increased revenue over the next three months. Thirty-one percent thought their revenue probably would rise, while 22 percent said their businesses’ revenue would definitely rise.

Forty-two percent said their sales would hold steady, and 6 percent expect their revenue probably to decrease, or definitely decline.

In the August business forecast, a higher percentage of businesses predicted their revenue for the next three months would increase.

Similar declines were seen in the responses to questions about business conditions; hours worked by employees; and projected number of employees.

“The positive upswing seen in the summer has not extended into the fall,” said John Nienstedt, president of Competitive Edge Research, which did the survey of 200 randomly selected members of the San Diego chamber and the East County Chamber of Commerce.

— SDBJ Staff Report