Economic Outlook Index shows record investment confidence

Despite recent heightened economic uncertainty, the Florida Council of 100 says its Economic Outlook Index shows confidence in the state’s trajectory among CEOs.

“Florida CEOs are betting on the state’s future through continued investment and expansion,” said George LeMieux, Chair of The Florida Council of 100. “That confidence reflects the strength of Florida’s business environment and long-term economic outlook.”

The Council conducts quarterly surveys of more than 100 of the state’s top employers for their perspectives on sales, capital investment and employment in the next six months

The first-quarter survey signaled “record investment confidence” among business leaders, the report stated. Florida’s Economic Outlook Index came in at 98. That’s higher than the national index figure of 89.

The capital expenditure subindex increased from 88 to 91 among those responding to the survey. That’s the highest level in the Council’s history of tracking that factor.

It indicates that “companies are continuing to invest in expansion, infrastructure and innovation,” the report concluded.

The Florida Council of 100 is an organization of business leaders in the Sunshine State. The first-quarter survey was conducted between March 11 through March 18 and garnered 111 responses from business leaders across major industries in Florida.

That survey landed right in the thick of notable economic volatility that emerged after the beginning of the Iran war.

Council analysts acknowledged that expectations for sales and employment “softened modestly.” But they maintain there is a “resilient outlook amid broader economic uncertainty.”

The employment subindex came in at 95, well above the national figure of 50, which indicates there’s still confidence in hiring among the state’s top employers.

“What we’re seeing is alignment among Florida’s leading CEOs around continued investment and growth,” said Mike Simas, President and CEO of The Florida Council of 100. “When that many business leaders are moving in the same direction, it’s a strong signal about where the economy is heading.”

The next Florida Council of 100 Economic Outlook Index report will come in June.