CEDAR RAPIDS (KWWL) -- During this year's 4th annual Economic Forecast Luncheon, the Corridor Business Journal and Vernon Research Group introduced The Corridor PollTM and The Corridor Poll IndexTM.
According to the findings of the initial study performed between December 23, 2008 and January 8, 2009, The Corridor Poll IndexTM for the first quarter of 2009 is 66 on a scale of 1 to 100. The scale is a gauge of the optimism or pessimism of business decision makers regarding both their business and the local economy.
Among the other findings: --Q4-2008 stock prices and available capital were down significantly. --There was a significant reduction in the number of Q4-2008 building permits taken out. --For Q1-2009, businesses are most likely to decrease spending on central service, advertising, training and education, travel, and salaries and benefits while at the same time maintaining staffing levels for regular, full-and part-time employees as well as the number of hours worked per week --Accounting, insurance, and technology business sectors report higher than average Q4-2008 performance and anticipate the same into Q1-2009 ---Retail and arts and culture sectors report among the lowest performance for Q4-2008 and anticipate the same for Q1-2009 --The restaurant and wholesale business sectors were the only sectors reporting break-even or loss conditions for the most recent fiscal year --The financial services, advertising, professional services (including consulting), health care, education, construction, accounting, and service industry sectors all reported significant gains for the most recent fiscal year
The Corridor PollTM and The Corridor Poll IndexTM will be updated and published on a quarterly basis.