Orange County business executives’ outlook slipped, possibly due to the Russian attacks on Ukraine and the persistence of COVID-19, economists at California State University, Fullerton, say in their latest expectations survey.
The OCBX outlook for the three months starting tomorrow fell to 85.3 from 91 in the first quarter, according to economists led by Anil Puri, director of CSUF’s Woods Center for Economic Analysis and Forecasting. A reading of above 50 indicates a belief in future growth in the economy.
In other survey results from the latest CSUF quarterly survey:
–20% of the OC executives surveyed see the Federal Reserve raising its key interest rate to more than 2% by the end of the year, while executives almost uniformly expect some raises this year.
–More than half listed inflation as their main concern.
–36% intend to increase their labor force.
The survey of 900-plus OC business executives was conducted from March 21-29.