Printer Friendly

WHEAT FIRST SURVEY SHOWS DIMINISHED ECONOMIC CONFIDENCE AMONG NEWSPAPER INDUSTRY EXECUTIVES

 RICHMOND, Va., June 7 /PRNewswire/ -- Securities analyst Kenneth T. Berents of Wheat, First Securities, Inc., said today that The Berents Newspaper Poll, a survey of newspaper industry executives, showed more than 70 percent of the respondents believe that consumer confidence has diminished due to "Clintonomics."
 The survey is the second in 1993 of a quarterly series of polls conducted annually by Berents looking at the health of the newspaper industry.
 In an attempt to determine the Clinton presidency's economic impact on the newspaper industry, the survey sought executives' opinions about the new administration in the recent poll.
 The survey reveals that while a mild rebound seems underway, newspaper executives' first quarter optimism appears to have eroded, due partially to doubts about President Clinton's economic programs. The majority of respondents believe Clinton's package is anti-business and may lead to higher inflation.
 The following are key findings from the poll:
 -- More than 70 percent of the respondents believe that consumer
 confidence has diminished due to "Clintonomics." Nearly 11
 percent believe consumer confidence has been bolstered,
 while 17 percent say it will remain the same.
 -- Regarding the administration's attitude toward business,
 69 percent believe it is anti-business.
 -- At least 75 percent believe that Clinton's higher-tax package
 will lead to higher inflation, while only 5 percent say it will
 lead to less. Twenty percent said the proposals wouldn't have
 any inflationary impact.
 -- While 80 percent gave President Clinton a fair-to-good overall
 rating, less than half rated his economic programs in the same
 positive manner.
 In other survey results, classified-linage projections in the Pacific Southwest recorded the strongest gains of any sector of the country, which may indicate that the long-suffering region finally is beginning to recover. For example, that region reported in January that "Help Wanted" linage would be flat. Now the projection is an increase of 2.4 percent.
 Retail advertising linage is projected to rise 1.6 percent in 1993, classified 2.6 percent, while national continues to flounder, down 0.8 percent. All projections were down slightly from January's. Although the economically sensitive classified ad linage pick-up continues, newspaper executives seem more worried about whether any meaningful advertising lift will emerge from the retail sector than they were in the beginning of the year.
 The second quarter survey, mailed and returned in April/May, polled more than 1,500 newspaper publishers, general managers and advertising executives at separate papers. The response rate was 10.3 percent. As in previous surveys, the report contains advertising linage, economic projections and financial and strategic information.
 Wheat, First Securities, Inc., is a leading financial services and investment banking firm headquartered in Richmond. Wheat and its Butcher & Singer division are represented by more than 800 financial consultants in 93 offices in 11 mid-Atlantic and Southeastern states and the District of Columbia.
 -0- 6/7/93
 /CONTACT: Barbara Henderson, 804-782-3534, or Ken Berents, research director, 804-782-3417, both of Wheat, First Securities, Inc./


CO: Wheat, First Securities, Inc. ST: Virginia IN: FIN SU: ECO

TW-MH -- DC011 -- 5978 06/07/93 11:21 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jun 7, 1993
Words:505
Previous Article:AFFYMETRIX RECEIVES $500,000 PHASE II SBIR GRANT
Next Article:HOUSE OF FABRICS ANNOUNCES EXECUTIVE PROMOTIONS
Topics:


Related Articles
FREE TRADE AGREEMENT SPURS EXECUTIVE HIRING IN LATIN AMERICA FOR SECOND QUARTER OF 1992: KORN/FERRY INTERNATIONAL SURVEY
The tortilla industry.
WHOLESALE DISTRIBUTION INDUSTRY CONFIDENCE DROPS; INDEX DECREASES TO 103.0 FROM 105.0
REPRESENTATIVES OF CALIFORNIA BUSINESS COMMUNITY REACT TO PACIFIC BELL ANNOUNCEMENT
DESPITE ECONOMIC SLOWDOWN, COMPANIES FORECAST HIGHER SALES AND ARE OPTIMISTIC ABOUT ADVERTISING EXPENDITURES
NEWSPAPERS SET THE AMERICAN AGENDA
EE Times Reports That Despite Increased Pay and Career Opportunities, Job Security is the Number One Concern Among Electronic Engineers
Chief Executives' Confidence Improves, The Conference Board Reports Today.
Business confidence rises; Worst of the recession 'could be over'.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters