The Idaho Business Review is launching a new feature for its readers this month called the Idaho Outlook Indicator.
The Indicator is a quarterly index designed to measure the overall sentiment of local industries in their current state, as well as the anticipated outlook over the next six months. This is measured through the survey participant’s confidence, or lack thereof, in three areas – business conditions, employment conditions and revenue – both now and as expected in six months.
In addition to providing an overall measurement of market confidence in Idaho that we can compare to past months and eventually past years, the Idaho Outlook Indicator will help us break down information by industry type, company size and region to get a better idea of pain points and growth areas. Ultimately, the data will be a tool that can help you make better informed business decisions.
Each quarter, IBR staff will request participation in the anonymous survey, and then publish the overall index reading, the present index reading, the future index reading and some other key findings from the results. The indicator will provide a snapshot of local industry professionals’ opinions that can be measured against the previous month and eventually the previous year. All firms in the state are invited to participate.
Q1 2017 Key Findings:
The overall index is based on a measurement of 0 to 100, with 0 being no confidence, 50 being neutral and 100 being extreme confidence.
- For the first month (March 2017), the present index measured 83.33, the future index measured 82.13 and the overall index measured 82.73.
- Among industry sectors, financial services (with a confidence rating of 100) and business development/startup (85) expressed the most confidence in current business conditions. However, their confidence in revenue outlook for the next six months waned (85) and (80). Health care (75) expressed the least confidence.
- All industry sectors express near extreme confidence in current and future business, while confidence in employment conditions and revenue are closer to neutral, indicating that business is increasing at a faster rate than staff and revenue.
Q1 2017 Survey Demographics:
Real Estate (14.1%)
Financial Services (8.2%)
Business Development / Startup (7.1%)
Health Care (4.7%)
Other (including education, manufacturing, government, marketing, nonprofit, hospitality) (48.2%
Size of companies represented:
9 employees or less (44.7%)
10 to 49 employees (24.7%)
50 to 99 employees (7.1%)
100+ employees (23.5%)
Geographic regions represented:
Northern Idaho (Coeur d’Alene / Sandpoint area) (0.0%)
North Central Idaho (Moscow / Lewiston / Grangeville area) (2.4%)
West Central (McCall / New Meadows / Council area) (0.0%)
Western Idaho (Payette / Weiser / Fruitland / Homedale area) (18.8%)
Boise area (52.9%)
Canyon County area (4.7%)
Mountain Home area (0.0%)
Twin Falls / Burley area (4.7%)
Sun Valley (3.5%)
Idaho Falls / Rexburg / Pocatello area (2.4%)
Other (statewide) (10.6%)