Q2 2018 Business Confidence Survey – Results are in!

EFC conducts a quarterly Business Confidence Survey, inviting all key association contacts to participate. Respondents are asked to compare their current quarter and next quarter sales, against the same periods last year.  92 key member contacts provided their feedback for this quarter.

In summary,

  • 74% of respondents felt their Q2 2018 business was better/much better compared to Q2 2017, with 6% reporting worse sales, and 20% reporting no change
  • Looking ahead, 74% of respondents expect Q3 2018 sales to be better/much better compared to Q3 2017.  When asked the same question last quarter, the next quarter optimism was 84%, 10 points higher.
  • Expectations for looking ahead ONE year, continues to be on the decline.   2 polls ago optimism was at 91%,  last poll was 86%, and this quarter optimism is at 72%.

A common theme in this decline has to do with the current Trade/Tariff situations.    Comments include:  “Expectations could be negatively effected by trade tariffs with US”, “Biggest concern is US Trade War”, “It will depend on the sanction imposed on the products crossing the border, we could see a slowdown in projects”,   “Trade/tariff situation is a complete wildcard – currency, reduced investment impacts can swing results negatively”,   “All bets are off if NAFTA fails”

To view the overall results of the survey, please click here:

Thank you to everyone who responded and we look forward to your continued support and participation.

If you have further questions or comments on the Business Confidence Survey, or have any input on how to improve /expand on the questions, please contact Anne Harrigan, Vice President, Marketing Resource at: aharrigan@electrofed.com or 416-716-1897