The Orange County Business Expectations Index for the just-started quarter rose to 66.9, the highest level in a year, from 60.5 in the previous three-month period, according to economists at California State University, Fullerton.
A reading of above 50 indicates a belief in future growth in the economy. The index was compiled from a survey of business executives that was conducted from March 21-28.
The researchers led by Anil Puri, the director of the university’s Woods Center for Economic Analysis and Forecasting, said 44% of executives surveyed cited inflation as their biggest concern.
Only 10% believe the recent banking troubles in the U.S. will have a broad contagion impact on the sector, according to the survey.
