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Most Executives Donít See Recession Ending Until 2011
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Most Executives Donít See Recession Ending Until 2011

  #1 (permalink)
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Most Executives Donít See Recession Ending Until 2011

Business leaders have become increasingly pessimistic about the economy, reporting that they donít see the recession ending for several months and donít expect to hire more workers any time soon, according to a new survey.

More on CNBC...

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  #2 (permalink)
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It's funny, bec. normally I don't even watch CNBC, but had it on from watching when the #'s came out earlier, so I happened to catch this interview. I'm watching the #'s they're showing from their poll and thinking they weren't bad. But the poller is speaking much more negatively. The interviewer did a decent job of pointing out that he didn't see the poll #'s as being that bad, either. This is a half-full or half-empty situation, and much of the bad appears to be in comparing them with the numbers from 3 months earlier, which were the highest since 2006. I'm thinking that Grant Thornton is going to highlight and magnify either the good or bad simply to make for a bigger story to increase publicity for their company.

Even the headline: Yeah, most exec's say that we won't be out in the next 4 months? Shocking! Given that many are screaming about a possible 2nd dip, the fact that most of those polled thought we'd be out of the recession within 10-16 months isn't that bad. In fact, not just most, but 84% do. And 22% think we either ARE out of it or will be in the next 4 months. With another 28% in the first half of 2011. So, 50% think we'll be out of it in the next 10 months. One more % point and one could say most believe by the first 6 months of 2011. 34% in the following 6 months. Only 16% think we won't be out of it by the end of next year.

And while most aren't planning on doing hiring in the next 6 months, 38% are, with 46% maintaining the same. So, 84% of exec's plan on maintaining or increasing their workforce, and only 15% plan on reducing it. That could be a headline, too.

How about the question of how optimistic they are about their business growing in the next 6 months? Somewhat Optimistic: 63% and Very Optimistic 13%. So 76% are somewhat or very optimistic for their businesses growth, with only 4% saying very pessimistic. Not bad, I'd say.

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