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2004 Q1 TEC
Confidence Index Survey United States Final Results Survey conducted 2/23/04 - 3/1/04 1,091 responses 5550 surveys sent 20% response rate +/- 3.0% margin of error 1. Compared with a year ago, have overall economic conditions in the U.S. improved, remained the same, or worsened? Response Frequency Percent Improved 803 74.0% About the same 238 21.9% Worsened 44 4.1% 2. During the next 12 months, do you expect the overall economic conditions in the U.S. will be better, about the same, or worse than now? Response Frequency Percent Better 755 69.6% About the same 300 27.7% Worse 29 2.7% 3. Are your firm’s total fixed investment expenditures likely to increase, remain about the same, or decrease during the next 12 months? Response Frequency Percent Increase 562 51.9% About the same 434 40.1% Decrease 87 8.0% 4. Do you anticipate that your firms’ sales revenues will increase, remain about the same, or decrease for the next 12 months? Response Frequency Percent Increase 896 82.8% About the same 143 13.2% Decrease 43 4.0% 5. Do you expect your firm’s profitability to improve, remain about the same, or worsen during the next 12 months? Response Frequency Percent Improve 775 71.7% About the same 234 21.6% Worsen 72 6.7% 6. Do you expect the value of the U.S. dollar compared with other currencies to be stronger, about the same, or weaker during the next 12 months? Response Frequency Percent Stronger 212 20.1% About the same 533 50.4% Weaker 312 29.5% 7. Do you expect your firm’s total number of employees will increase, remain about the same, or decrease during the next 12 months? Response Frequency Percent Increase 667 61.6% About the same 354 32.7% Decrease 62 5.7% 8. If you plan to hire employees in 2004, which of the following do you plan to hire? (You may select more than one) Response Frequency Percent Management 224 21.2% Sales and Marketing 507 48.0% Professional staff (e.g. finance, HR, IT) 321 30.4% Tradespeople (e.g. construction worker, line worker) 367 34.8% Administrative/ clerical staff 309 29.3% Not planning to hire in 2004 152 14.4% 9. What kind of employees do you plan to hire in 2004? Response Frequency Percent Full-time 604 56.7% Part-time 25 2.3% Both full and part-time 275 25.8% Not planning to hire in 2004 162 15.2% 10. What functions will your business offshore (outsource overseas) in the next 12 months? (You may select more than one) Response Frequency Percent Information Technology 56 5.2% Manufacturing 128 11.9% Sales 22 2.0% Customer support 25 2.3% Other 41 3.8% None, but do plan to outsource offshore within the next three years 68 6.3% None 785 72.8% 11. The accelerated depreciation tax benefit is available to businesses making investments before the end of 2004. How will it affect your business investment spending this year? Response Frequency Percent Substantially 80 7.4% Modestly 448 41.5% Not at all 462 42.8% I'm not aware of the accelerated depreciation tax benefit 89 8.2% 12. In your opinion, what will be the #1 issue in this year’s presidential election? Response Frequency Percent The economy 754 69.6% Iraq 117 10.8% Foreign policy 66 6.1% Terrorism 85 7.8% Health care 42 3.9% Education 2 0.2% Other 18 1.7% 13. Given what you know now, do you believe that the U.S. should have gone to war with Iraq? Response Frequency Percent Yes 771 71.8% No 303 28.2% 14. If the 2004 presidential elections were held today, which candidate would get your vote? Response Frequency Percent George W. Bush 786 73.7% John Edwards 59 5.5% John Kerry 175 16.4% Other 31 2.9% I don’t plan on voting 16 1.5% 15. Are you or your spouse the primary decision-maker (assisted living, nursing home placement, etc.) for an elderly parent? Response Frequency Percent Yes, at least one parent currently lives with me. 27 2.5% Yes, my spouse or I are the primary decision-maker for an elderly parent at this time. 209 19.4% No, neither my spouse nor I are the primary decision-maker. 844 78.1% 16. Have you tried the Atkins diet? Response Frequency Percent Yes, I am currently on the Atkins diet. 114 10.5% Yes, I have been on the Atkins diet in the past. 233 21.5% No, I haven't tried the Atkins diet. 736 68.0% 17. How much will your company spend on outside consultants in the next 12 months? Response Frequency Percent Less than $10,000 278 25.6% $10,000-$50,000 475 43.8% $51,000-$100,000 150 13.8% Over $100,000 127 11.7% None 54 5.0% 18. How does the rising cost of raw materials (such as steel) most significantly impact your current business decisions? Response Frequency Percent We plan to postpone raw material purchases. 3 0.3% We're closely following the fluctuating prices of raw materials, but not taking any immediate action. 277 25.9% We plan to increase our inventory of materials in order to avoid rising prices. 87 8.1% The cost of raw materials does not significantly affect our business. 703 65.7%
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