Aspen-Snowmass business confidence takes small dip
A recent survey of businesspeople in the Aspen and Snowmass area indicates that business confidence has dipped slightly since last fall, although it is still higher than it was a year ago.
The Aspen/Snowmass Business Confidence Index has been conducted four times a year since August 2009. Many of the survey participants are business owners or decision makers for their respective businesses. The index takes into account how businesses have performed over the past year and focuses on the current health of the local economy and the participants’ anticipated business outlook for the coming months and year.
The index, based on results of a survey sent out in mid-April, is currently at 65.1. A reading above 50.0 indicates positive sentiment toward the Aspen/Snowmass economy. The highest result ever measured by the survey was 69.3 in November.
According to real estate broker Andrew Ernemann, who conducts the survey, 65 percent of respondents reported improved conditions compared with a year ago. Fifteen percent reported their business was performing worse than last year.
All of the respondents expect their businesses to perform the same or better in the next few months.
“Looking out a little further, 77 percent of the participants expect their business to be performing better one year from now, while 19 percent expect similar performance and 4 percent anticipate a decline,” Ernemann said.
Ernemann said respondents are more confident in the local economy than the national or global economy.
“A handful of respondents indicated low confidence in current local economic conditions, while most respondents feel the local economy is doing the same or better than three months ago,” he said. “The national economy received a healthy vote of confidence, as well, although both the global and national economies continue to receive a number of responses that demonstrate a lack of confidence.
“Although national and global uncertainty persists, it seems the survey respondents have indicated some resiliency with regard to the local economy. The current index level is rather solid, but the downward direction over the last two quarters may warrant some pause if the trend continues through the summer. There is strong local optimism looking ahead over the coming year.”
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