April 23, 2014

Economic Outlook 2009

| 1/1/2009

CEO Survey results - U.S. Economy

Do you think the U.S. economy’s performance will improve, deteriorate or remain stable in 2009?
2008 2007 Change from
2007 (% pts.)
Improve 28% 17% +11.5
Deteriorate 39 38 +0.7
Remain stable 28 43 -14.9
Don’t know/not sure 5 2 +2.7

Dr. Win Philips
Viewpoint U.S. Economy
Dr. Win Philips
University of Florida
Vice President for Research
Gainesville

I suspect that, at best, the economy will stabilize next year. The issues and factors that have caused the downturn are too numerous and too complex to allow correction in the near term. The University of Florida will undergo some fiscal challenges, but research and enrollment pressures will remain strong. Obviously, the financial sector needs to recover from a serious downturn before other enterprises can benefit. The manufacturing sector and capital-intensive industries will remain seriously challenged. Borrowing to maintain inventory will be difficult and, of course, consumer spending will be slow to recover. While Florida has a stressed economy, it should recover in step with the larger national scenario. I am not an economist, but money needs to become more available for investment, loans, technology development and research.

CEO Survey results - Economic Impact

What one factor do you see as having the most impact on Florida’s current and future business climate?
2008
Housing market 55%
Credit crunch 28
Recession 10
Price of oil 4
Devaluation of the dollar 2
Foreign competition 1

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