Bullish on America
February 21 2017 - 8:57AM
Business Wire
Business optimism for U.S. economy charges
ahead, says 2017 JPMorgan Chase Business Leaders Outlook report
Executives from midsize and small businesses feel dramatically
better about the U.S. economy than a year ago, according to the
2017 JPMorgan Chase & Co. Business Leaders Outlook report
released today.
Middle market executives are twice as optimistic – 80%, up from
39% – about the U.S. economy than they were last year. Also, 62% of
small business owners are bullish about the U.S. economy, up from
43%. Both groups feel even better about their own company’s
prospects.
“U.S. companies are gaining confidence, and they anticipate new
economic support from Washington in the coming year,” said Jim
Glassman, Senior Economist at JPMorgan Chase. “Even some of their
top business challenges – managing labor costs and trying to tap a
limited supply of talent – are more growing pains than survival
tactics.”
In fact, 76% of middle market executives and 61% of small
businesses expect that the new administration will have a positive
impact on their business. They want the government to focus first
on:
- Reducing regulations (middle market at
67%, small business at 40%); and
- Lowering taxes (56%, 57%).
Middle Market Businesses
Executives expressed the most optimism in the survey’s seven
years:
- Their company: 84%, up 14 points from
2016
- Local economy: 68%, up 18 points
- Global economy: 30%, up 20 points
They see their top business challenges as:
- Revenue/sales growth: 71%, down 3 from
2016
- Managing labor costs: 46%, up 6
points
- Limited supply of talent: 44%, up 4
points
The regulations they are most concerned about are:
- Healthcare: 63%, down 5 points from
2016
- Labor: 44%, up 5 points
- Fiscal policy: 42%, down 6 points
Small Businesses
Small business executives are optimistic for the year
ahead:
- Their company: 71%, flat from 2016
- Local economy: 55%, flat
- Global economy: 41%, up 14 points
They see their top business challenges as:
- Growing revenue/sales: 38%, down 10
points from 2016
- Uncertainty of economic conditions:
34%, flat
- Taxes: 28%, flat
The regulations they are most concerned about are similar to
last year’s:
- Taxes: 46%, flat from 2016
- Healthcare regulation: 44%, up 3
points
- Payroll/employment taxes: 42%,
flat
For more information on the 2017 Business Leaders Outlook survey
results, visit jpmorganchase.com/businessleadersoutlook.
Methodology
The 2017 JPMorgan Chase Business Leaders Outlook survey sets out
to understand businesses perceptions of both domestic and
international economic and regulatory conditions, as well as to
understand the concerns facing these organizations. The online
survey was conducted from January 3 to January 20, 2017. More than
1,400 middle market executives (annual revenue between $20 million
and $500 million); and a total of 950 small businesses (annual
revenue between $100,000 and $20 million) in the United States
participated in the survey. The results are within statistical
parameters for validity, and the error rate is +/- 2.5% for the
middle market survey and +/- 3% for the small business survey, both
at the 95% confidence interval.
About JPMorgan Chase
JPMorgan Chase & Co. (NYSE: JPM) is a leading global
financial services firm with assets of $2.5 trillion and operations
worldwide. The Firm is a leader in investment banking, financial
services for consumers and small businesses, commercial banking,
financial transaction processing, and asset management. A component
of the Dow Jones Industrial Average, JPMorgan Chase & Co.
serves millions of consumers in the United States and many of the
world's most prominent corporate, institutional and government
clients under its J.P. Morgan and Chase brands. Information about
JPMorgan Chase & Co. is available at www.jpmorganchase.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20170221005915/en/
JPMorgan Chase & Co.Media Contacts:Nicole Robbat,
nicole.robbat@chase.comAshley Frost, ashley.c.frost@chase.com
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