There seems to be universal recognition that the national economy has slowed, maybe even stalled. Alan Greenspan and his Federal Reserve cut interest rates by another half point last week, and Greenspan has given President Bush an endorsement for his tax cut proposal.
QUESTION: Wayne Ayers, economist for Fleet, has suggested that the slowdown
will really only occur during the first six months of the year, when national
growth will be about 1 to 1.5 percent, with overall growth for the year at 2 to
2.5 percent, suggesting an accelerating economy the second half the year. In your
business or organization do you anticipate the same growth patterns?
Yes: 28%
No: 33%
Don’t know: 39%
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QUESTION: The fed has cut rates another half percent — 1 percent over the
last couple of months, do you think this alone will be enough to turnaround a
sluggish economy?
Yes: 22.5%:
No: 55%
Don’t know: 22.5%
QUESTION: President Bush has been advocating a tax cut since the beginning
of the election, and now has Greenspan’s blessing. Do you believe a tax cut is
necessary, along with an interest rate reduction, to turn around a slowing
economy?
Yes: 72%
No: 22%
Don’t know: 6%
QUESTION: Even if you don’t think a tax cut is needed to revitalize the economy,
do you support a federal tax cut?
Yes: 78%
No: 11%
Don’t know: 11%
The Providence Business News/Johnson & Wales executive poll is a weekly survey of 70 top business leaders throughout the state, representing small and large companies in a variety of industries and businesses. All questions are chosen exclusively by the editor of the Providence Business News.
