In its nearly 10 years, Providence Business News’ Business Survey has charted the slow, sometimes inconsistent, recovery of Rhode Island from the Great Recession. This past summer’s edition of the survey shows the business community practically giddy, setting record highs in three benchmarks of current performance and expectations, and continuing strong showings in three other related readings.
More respondents to the questionnaire than ever said that current business activity was improved in the last quarter, as were new orders or business. And the highest percentage ever – 62.1 percent – said that they expected to make a hire in the next quarter.
At the same time, near record highs were reached for net-income levels versus previous years and for expectations for the respondents’, as well as the state’s, economic performance over the next year.
While the PBN Business Survey cannot claim to be a statistically exact reflection of business-community sentiment, its results can be accurately seen as providing a window into the dynamic nature of those engaged in business. And what we see – at least from those who responded to the survey – is quite positive.
Are there issues impeding further progress in Rhode Island? Of course.
At the top of the list is a shortage of qualified workers, an issue that has gained steam over the last few years. Too much government red tape and high costs are also consistent problems hereabouts.
But for a short time at least, let’s just enjoy the positive vibe the business community is giving off. Reality will intrude on it soon enough.
