2013 Economic Forecast for WNY
BUFFALO, N.Y. — For the sixth consecutive year, First Niagara sponsored a survey of business leaders across Upstate New York.
The survey asked nearly 200 executives from the Buffalo/Niagara region to predict economic conditions in 2013.
Results of the poll show that business leaders feel less optimistic about the economy. This is a change from the past three years, when executives felt a sense of optimism after the 2007-2008 recession.
First Niagara Vice President R. Buford Sears says the survey results showed that local company leaders are at least somewhat optimistic about job growth in the coming year.
"There's good news around job creation in the survey results. By a ratio of two to one, respondents said that they intended to add to jobs during 2013 versus subtract from jobs", said Sears.
Company leaders also predict revenues and workforce sizes will increase in 2013, but say they believe profits will decrease.