The state of our economy: Regional Detroit Business Confidence Index skids 38 points.After a slight rebound rebound (rē´bownd), n/v 1. a recovery from illness. n 2. an outbreak of fresh reflex activity after withdrawal of a stimulus rebound adjective in the fourth quarter of 2006, the Regional Detroit Detroit, city, United States Detroit (dĭtroit`), city (1990 pop. 1,027,974), seat of Wayne co., SE Mich., on the Detroit River and between lakes St. Clair and Erie; inc. as a city 1815. Business Confidence Index took a nosedive nose·dive n. 1. A very steep dive of an aircraft. 2. A sudden, swift drop or plunge: Stock prices took a nosedive. Noun 1. in February February: see month. . Buoyed slightly by the mid-term election results, Christmas Christmas [Christ's Mass], in the Christian calendar, feast of the nativity of Jesus, celebrated in Roman Catholic and Protestant Churches on Dec. 25. In liturgical importance it ranks after Easter, Pentecost, and Epiphany (Jan. 6). sales and a short hiatus hiatus /hi·a·tus/ (hi-a´tus) [L.] an opening, gap, or cleft.hia´tal aortic hiatus the opening in the diaphragm through which the aorta and thoracic duct pass. from bad news from the automotive industry The automotive industry is the industry involved in the design, development, manufacture, marketing, and sale of motor vehicles. In 2006, more than 69 million motor vehicles, including cars and commercial vehicles were produced worldwide. , the index climbed to 81.5 in the prior period. However, more bad news from Ford and DaimlerChrysler combined with continued political uncertainty and perhaps the winter blues has resulted in an incredible 38-point drop in the latest period. The most striking feature of the February survey was not how bad Regional Detroit businesses feel about the local business conditions but the extreme lack of optimism for the future. Thirty-four percent of area businesses felt that business conditions for their company were either "good" or "very good" while 33 percent felt they were either "bad" or "very bad." During the last survey, a slightly smaller percentage felt good about their company's business conditions, but only 25 percent felt the opposite. Thirty-two percent of the businesses surveyed were neutral this period vs. 44 percent last period. Perhaps one of the big surprises of this period's survey is the lack of movement in how area businesses feel about business conditions in the Detroit Region as a whole. Only a very small percentage felt worse (82 percent vs. 84 percent) this period. But with so many of area businesses already feeling "bad" or "very bad" about Regional Detroit business conditions, it's it's 1. Contraction of it is. 2. Contraction of it has. See Usage Note at its. it's it is or it has it's be ~have hard to imagine these numbers getting much worse. Area businesses are still feeling slightly better about business conditions six months from now both for their business and the Detroit Region as a whole. However, the percentage of businesses showing little or no optimism is growing. Twenty-two percent of area business felt that future conditions for their business would be either "bad" or "very bad" compared with 45 percent in February. And 68 percent felt that Regional Detroit business conditions would still be either "bad" or "very bad" in six months compared to 76 percent in the most recent survey. Some Companies See Hiring in Their Future Only 15 percent of area businesses have increased the size of their workforce in the last six months while 41 percent have had to reduce the number of people they employ. In the next six months, most companies see their workforce remaining stable but nearly 24 percent do expect to hire workers. In the last business confidence survey, nearly 34 percent of area businesses had experienced an increase in sales in the previous six months. Almost 24 percent of respondents In the context of marketing research, a representative sample drawn from a larger population of people from whom information is collected and used to develop or confirm marketing strategy. in the most recent survey enjoyed increasing sales with over 45 percent experiencing a decline in sales over the last six months. In the future, 48 percent of area businesses expect better sales with only 22 percent expecting a sales decline. Area manufacturers feel the worse about the local business conditions and feel that business conditions for their company and the region as a whole will remain virtually unchanged in six months. Forty percent had to reduce their workforce in the past six months but 40 percent feel that their employment levels will remain stable in the next six months. Exactly half of the manufacturers surveyed expect their sales to remain the same in the next six months as well. The sixth Regional Detroit Business Confidence Survey was conducted online from Feb. 7-16 by the Detroit Regional Chamber Research & Information Center. The sample of 200 respondents was representative of the industrial and size makeup makeup In the performing arts, material used by actors for cosmetic purposes and to help create the characters they play. Not needed in Greek and Roman theatre because of the use of masks, makeup was used in the religious plays of medieval Europe, in which the angels' faces of the region's business community as a whole. Third quarter 2005 = 100. For more information contact Melissa Armstrong at (313) 596-0383 or e-mail: marmstro@detroitchamber.com RELATED ARTICLE Regional Detroit Business Confidence Index [GRAPHIC OMITTED] Current Business Conditions Your Company Detroit Region United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. Business Conditions Six Months From Now You Company Detroit Region United States Hiring Sales |
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