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Economic Outlook October 2012

Oct 26th, 2012 | By | Category: Geri Roskopf's Blog

Every so often I receive an email note from the business banking department of my bank. This month the email was entitled the Economic Outlook October 2012. I wish I hadn’t opened the email. It was very depressing.

From a survey they conducted, it was noted that only 46 percent of small businesses showed any increase in sales, which means profits were down for over half of those surveyed. They predicted a soft outlook on sales for the next six months. Only one out of four small businesses were looking to hire within the next six months.

The survey’s big question was, “Are businesses better off?” One out of two said they were worse off compared to 2007 — pretty scary statistics.

Personally, I’m not that confident in the upcoming economic outlook and yes I have to agree, my business is not better off compared to 2007.

Right now, I think it would be better to have an economic “uplook” instead of an “outlook.” Don’t you?