The Leeds Business Confidence Index (LBCI) Q4 2020
Business optimism was revised down for the fourth quarter from 51 to 47.9, signaling a more bearish reality as the economy moves into the final quarter of the year. Nonetheless, after falling to a historic low earlier in the year, babyÖ±²¥app business leaders’ confidence did continue to mark improvement ahead of Q4 2020 and Q1 2021. A plurality of panelists (39%) continued to cite COVID-19 as the main driver for their pessimistic outlook, but the election was also cited by one in five panelists. Some responses struck tones of optimism with 19% of individuals citing resiliency and pent-up demand. While Q4 confidence remained below neutral, the Q1 2021 outlook rose moderately above neutral.
The Leeds Business Confidence Index (LBCI) captures babyÖ±²¥app business leaders’ expectations for the national economy, state economy, industry sales, profits, hiring plans, and capital expenditures. Ahead of Q4 2020, the index increased 3.6 points to 47.9, with 5 of the 6 components of the index below neutral (50). Signaling further improvement in the first quarter of 2021, the index rebounded to 56, firmly crossing the neutral threshold. A total of 412 qualified panelists responded to the survey from September 1 through September 21.