Follow the Leaders
Each quarter the Virginia Council of CEOs (VACEOs) and University of Richmond’s Robins School of Business partner to take the pulse of top executives in the region through a comprehensive “Economic Outlook Survey.”
The first quarter 2018 CEO Economic Outlook survey by the University of Richmond’s Robins School of Business and the Virginia Council of CEOs (VACEOs) finds that Virginia CEOs’ expectations for sales and employment fell from last quarter, while expectations for capital spending were unchanged.
The survey’s index, which measures executives’ views on projected hiring, capital spending and sales over the next six months, fell to its lowest level since Q3 2016.
|Year||Quarter 1||Quarter 2||Quarter 3||Quarter 4|
|2020||-18.73 (historic low)|
|2017||108.97 (historic high)||103.63||99.17||106.3|
“There’s a lot to like in the local business environment. I think small business CEOs get a little nervous when things are so good, but this remains a fairly optimistic forecast,“ said Scot McRoberts, executive director of the Virginia Council of CEOs.
“After five of the best quarters in the survey’s history, it appears that expectations are leveling off,” said Randy Raggio, Associate Dean at the Robins School of Business. Raggio administers the survey and collects the responses each quarter. He adds, “Manufacturers and companies that sell to them report strength. But interest rates are a concern among residential and commercial developers, and small-scale retailing is weak.”
The first quarter 2018 CEO Economic Outlook survey found that executives’ expectations for capital spending were significantly unchanged from last quarter. To summarize, CEOs predictions over the next six months include:
The survey, adapted from a similar Business Roundtable national survey, provides a snap shot of the overall economic outlook index for various companies within the region. It also helps central Virginia companies anticipate business decisions and plan for growth. Randy Raggio, Associate Dean at the Robins School of Business, administers the survey and collects the responses each quarter.
Read Richmond Times-Dispatch coverage here >
The Council continues to expand the survey beyond its members, offering any area business owners whose companies gross at least $1 million in annual revenue the opportunity to participate. If enough businesses participate, the Council will provide survey results by industry. Participation is free, and all participants will receive copies of the survey data.
Business owners and CEOs who would like to participate in the next survey should contact Scot McRoberts at firstname.lastname@example.org.