Poll: State Employers Expect Little Movement in Revenue & Profits
New York State employers predict thier revenue will grow slightly in 2023, but they expect profits to dip a bit.
According to the latest Business Council and Siena College Research Institute (SCRI) poll, 35% of CEOS surveyed believe their revenue will grow "moderately" in 2023, with another 35% expecting revenues to remain the same. Conversely, 23% of those polled expect a "moderate" decrease, while 5% see a "substantial' decrease on the horizon.
Despite the optimism in revenue growth, just 26% of those polled expect some sort of profit growth in 2023, while 38% expect profits to remain at about the same level as they were in 2022. A little more than a third, 37%, expect profits to decrease in 2023.
The SCRI upstate CEO poll is done in partnership with The Business Council of New York State. The survey was done between November 2022 and February 2023, with 530 CEOs polled from seven regions. This was the 16th year the poll was conducted.