Most area business leaders optimistic about Q3

But fewer predict profit gains, employment growth

Economic indicators

Last updated on July 2nd, 2019 at 09:07 am

Most area business leaders are optimistic about how their companies will perform in the third quarter, according to the latest business outlook survey by the Metropolitan Milwaukee Association of Commerce.

The survey, conducted by the MMAC, includes responses from 113 Milwaukee area firms, both large and small, that employ more than 43,250 people.

Economic indicators

Of those surveyed, 65 percent predict third quarter sales gains, 58 percent predict increased profits in the quarter and 44 percent say they expect to increase employment in the third quarter.

Only 10 percent predicted sales decline in the third quarter, and only 10 percent predicted a decline in profit, while 13 percent said they planned to reduce staff in the quarter.

Sales expectations for the quarter matched the second quarter outlook survey results, while profit expectations were down from the 61 percent who predicted second quarter gains.

“Optimism toward future growth prospects in the metro area are down a bit among most business activity levels,” said Bret Mayborne, the MMAC’s economic research director. “These results suggest that while growth is likely to continue, the pace of growth may be slower than average.”

Job growth expectations for the third quarter are down a bit from the 46 percent expected from the second quarter outlook survey.

The number of jobs in the metro Milwaukee area has grown for 68 consecutive months, year-over-year.

“Survey results suggest that growth is likely to continue, however modest,” Mayborne said.

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Andrew is the editor of BizTimes Milwaukee. He joined BizTimes in 2003, serving as managing editor and real estate reporter for 11 years. A University of Wisconsin-Madison graduate, he is a lifelong resident of the state. He lives in Muskego with his wife, Seng, their son, Zach, and their dog, Hokey. He is an avid sports fan and is a member of the Muskego Athletic Association board of directors.

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