Fourth quarter business confidence dipped sharply among executives in Birmingham and Alabama, compared to the previous quarter, as COVID and Delta variant concerns linger. But outlook remained in positive territory at 54.2, down 13 points from the previous quarter, according to the University of Alabama’s Culverhouse School of Business Quarterly Alabama Business Confidence Index. Alabama’s confidence index dropped 9 points to 58. An index score above 50 indicates positive outlook as compared to last quarter and below 50 indicates negative outlook. Here are some takeaways from the fourth quarter report:
Index scores gauging sales, profits, hiring and capital expenditures all dropped from a summer high, but remained on the positive side of the index.
Other Alabama metros decreased in confidence from last quarter as well, but overall maintained a positive outlook.
Confidence among Birmingham area executives in the national outlook fell 14 points to 50.7.
The highest confidence category was in hiring, giving us reason to believe that job growth will continue in the fourth quarter.
Read the full report here and sign up to take the survey each month.