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Leaders for Florida’s small, medium firms are optimistic about economy

According to a forecast by PNC, business leaders feel sunny about the coming six months.
Published Nov. 12

Despite concerns of a looming recession, leaders of Florida’s small- and medium-sized businesses are optimistic about the short-term economic outlook.

According to a forecast by PNC Financial Services Group, 46 percent of Florida’s business leaders feel positive about their local economies for the coming six months, up 7 percent from last year.

“This optimism reflects the general health of the U.S. economy, which has remained solid through 2019,” Abbey Omodunbi, a PNC economist, said in the report. “Labor market conditions are strong in the Sunshine State.”

About 36 percent (up 2 percent from 2018) said the tight labor market has made it more difficult than last year to find suitable employees. To retain employees, 44 percent of those surveyed increased wages, 27 percent upped benefits and 27 percent allowed flexible working arrangements.

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