CEO confidence up, Siena survey says

Jan 30, 2017

Confidence among hundreds of chief executive officers is up across New York nine points. That's according to the 10th Annual Upstate New York Business Leader Survey.

The survey of 440 business leaders in Buffalo, Rochester, Syracuse and Albany was conducted by the Siena College Research Institute following the November election. Institute Director Don Levy says compared to a year ago, future confidence among local CEO's jumped up by a "significant" 21 points.

"CEOs that we surveyed in Buffalo really feel as though, overwhelmingly, that this is going to be a strong year," Levy said. "That they're going to see, not only their revenues increase, their profitability increase, for them personally. But their expectation is that the entire New York state economy is going to be far stronger in the coming year."  
 
But Levy said that is not a reflection on Albany. He said the CEOs based their growing confidence on more demand for products and services, the increase in consumer confidence, and the federal government's ability to improve business conditions.  

"For many years they've been telling us that  healthcare costs, regulations, are stifling their ability to be profitable," he said. "So there's a growing hope that a new pro-business president will make some inroads most especially relative to the effect that healthcare costs are having on their business day in and day out."

Levy will dive deeper into the numbers in Buffalo Tuesday as part of "CEOs Speak," an inside perspective on the region's economic outlook hosted by the Buffalo Niagara Partnership.