Produced by the Chamber, in partnership with San Diego Private Bank, this monthly economic report conducted by Competitive Edge Research provides valuable insights into future trends of the regional business community as well as topical issues.
July 2017 – Chamber Business Forecast – Sustained Business Confidence Hits Plateau
The business community’s confidence continues to be markedly higher than it was a year ago, but this month’s Business Forecast found its climb has reached a plateau. The gains seen over the last six months have not extended into the outlook for the summer with the Business Outlook Index at 21.7. This Forecast, sponsored by San Diego Private Bank, also took the annual measurement of how business-friendly local governments are and whether firms are considering moving out of the county. The results show perceived friendliness of local government is on par with last year. When compared to 2014 and 2015, government has become friendlier to the business community by 11 percent and 5 percent, respectively. And regarding moving operations, 9 percent of companies are considering moving at least a portion of their company outside San Diego County, about the same as last year.
June 2017 – Business Community Maintains Steady Optimism Looking to Summer
This month’s San Diego Private Bank-sponsored Business Forecast shows that San Diego’s business community remains steadily upbeat about near term prospects. The Business Outlook Index (BOI) sits right at its all-time average of 23.7. There has been no change in the outlook since last month and optimism has been stable the entire year. It has been a pleasantly remarkable change from 2016, when San Diego’s business community began to doubt that things would improve and see-sawed its way through the year.
May 2017 – Tank Empty on Business Community’s Enthusiasm for New State Gas Tax
This month’s Silvergate Bank-sponsored Business Forecast finds strong opposition from San Diego County’s business community for the recently passed state gas tax. Nearly half see the taxes as having a negative impact on their industry, with 27 percent expressing concerns that those impacts will be “very negative.” While sour on the new tax, county businesses are holding steady to the optimism that has been present since the start of the year. The Business Outlook Index (BOI) in this month’s Forecast sits at an even 24.0, right in line with its historic average and unchanged from the previous four months.
April 2017 – Steady Business Confidence Closes Q1
The April Business Forecast takes a look back at the first quarter of 2017 with the quarterly Business Outlook Index (BOI) at 24.8, which is a marked improvement over the previous three quarters and the best since the second quarter of 2015. The monthly BOI comes in just slightly below the quarterly mark at a solid 23.7, exactly its lifetime average. This month’s Forecast, sponsored by Silvergate Bank, also looks at opportunities and challenges for small businesses in San Diego County. Government regulations and minimum wage top the list of obstacles, while 41 percent say growth opportunities are better for small firms now than five years ago.
March 2017 – Business Confidence Continues Positive Trajectory
This month’s Business Forecast brings continued good news on the outlook for county businesses with the Business Outlook Index (BOI) firmly in positive territory at 25.2. The main driver of this recent surge in enthusiasm relates to revenue with the majority of firms expecting an increase. This month’s Forecast, sponsored by Silvergate Bank, also looks at health insurance and perceptions of the ACA. The survey found that relatively few firms know how the proposed ACA reforms will impact their business.
February 2017 – Business Confidence Soars in First Quarter
The positive trend we have seen the last few months from county businesses continues with a surge in optimism in this month’s Silvergate Bank-sponsored Business Forecast. San Diego County’s Business Outlook Index (BOI) is now 25.6, the highest level since March 2016. This month’s Forecast also asks about disaster preparedness and finds that fewer than half of the county’s businesses have a disaster recovery plan. Business size is a factor, with small firms rarely having plans in place and large firms more likely to have an established strategy.