Business Optimism Remains High

COLUMBUS, OH –The Ohio Chamber of Commerce Research Foundation released its quarterly business leader’s survey today, and the 3rd Quarter findings reveal that its primary indicator, the Prosperity Pulse index, improved substantially. The Prosperity Pulse is an index measurement of the economic health of Ohio companies and, at 139.9 for the 3rd Quarter, it’s at its highest point ever in the survey’s brief history. This score represents a significant 24-point jump over the 2nd Quarter Prosperity Pulse.

In addition, business leaders’ overall optimism about the strength of both their businesses and Ohio’s economy remains strong. Fully 91 percent of business leaders are optimistic about the future economic health of their company and more than 72 percent say that the economic climate is either excellent or good. This is the third consecutive quarter in which optimism about the future exceeded 90 percent.

More than half of manufacturing businesses saw their employee headcounts go up during 3rd Quarter, and more than two-thirds project an increase in this quarter, as well. Among smaller employers with 400 or fewer employees, 69 percent reported increased employee headcounts in the 3rd Quarter.

The survey also identifies areas of concern and the top concern – as it has been since the first survey in this series was taken in the 1st Quarter of 2017 – is the cost of healthcare. Business leaders also listed concerns about the political environment and other employee benefit costs in their top three.

The Prosperity Pulse index measures the economic health of Ohio companies, taking into consideration the future outlook of five key indicators: profits, employment levels, unfilled openings, capital expenditures, and overall economic optimism. The 3rd Quarter survey was conducted between October 5-27 and included over 400 respondents.

To view the report, click here.

To view the topline report, click here.

To view the crosstab report, click here.

The Ohio Chamber of Commerce Research Foundation is a registered 501(c)(3) organization dedicated to the economic well-being of Ohio. Although an affiliate organization of the Ohio Chamber of Commerce, Ohio’s leading business association, the Research Foundation operates under separate by-laws and a separate board of directors.