SYRACUSE — Economic growth is poised to “modestly accelerate” in 2014 as the “drag” from housing, consumer deleveraging, global trade, and fiscal policy recedes.” That’s according to Gary Keith, regional economist for M&T Bank, the keynote speaker at today’s Economic Forecast Breakfast held by CenterState CEO at the Nicholas J. Pirro Convention Center at Oncenter […]
SYRACUSE — Economic growth is poised to “modestly accelerate” in 2014 as the “drag” from housing, consumer deleveraging, global trade, and fiscal policy recedes.”
That’s according to Gary Keith, regional economist for M&T Bank, the keynote speaker at today’s Economic Forecast Breakfast held by CenterState CEO at the Nicholas J. Pirro Convention Center at Oncenter in Syracuse.
Keith presented an overview of trends in the national and state economies, and their impact on the region, according to a news release CenterState CEO distributed about the forecast breakfast.
“While service-sector hiring should maintain its upward momentum, the extent to which industrial job losses are stemmed, and reversed, will be key in the coming year,” Keith said.
At the same time, a “large majority” of focus-group participants expect the Central New York economy to improve in 2014, believing it is “slowly catching up” to levels not seen since before the economic downturn of 2008, Robert Simpson, president of CenterState CEO, said in the release.
“Businesses and the CenterState New York region as a whole will face an array of pivotal opportunities in 2014. Companies are preparing to embrace those opportunities head on by meeting the emerging demands of their industries, expanding their products and services to new markets, both domestically and abroad, and are looking for new opportunities through collaborations and partnerships,” Simpson said.
The forecast report identifies trends that affected the regional economy in 2013, and outlines opportunities and challenges for 2014.
CenterState CEO used input from 236 member-executives and community participants representing 12 counties, along with “exclusive” data and analysis from Manpower, to generate the forecast report, the economic development and chamber-of-commerce organization said.
For example, the report found 58 percent of respondents indicated an average growth rate of 15 percent.
In addition, respondents also indicated expectations for 2014. The report found 68 percent expect an increase in sales and revenue, 53 percent anticipate they’ll expand products and services, 49 percent expect a rise in profit, and 32 percent plan to increase capital investments this year.
The report also identifies “several opportunities and reasons for optimism” across sectors in 2014.
The “broad societal desire” for sustainability will create growth in areas such as alternative fuels and energy sources, hybrid technology, and recycling in 2013, the report found.
Exporting is also viewed as a “vitally important component” in sectors such as manufacturing and could serve as a “great engine” for generating revenue in the region, according to the report.
Contact Reinhardt at ereinhardt@cnybj.com
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SYRACUSE — Economic growth is poised to “modestly accelerate” in 2014 as the “drag” from housing, consumer deleveraging, global trade, and fiscal policy recedes.”
That’s according to Gary Keith, regional economist for M&T Bank, the keynote speaker at today’s Economic Forecast Breakfast held by CenterState CEO at the Nicholas J. Pirro Convention Center at Oncenter in Syracuse.
Keith presented an overview of trends in the national and state economies, and their impact on the region, according to a news release CenterState CEO distributed about the forecast breakfast.
“While service-sector hiring should maintain its upward momentum, the extent to which industrial job losses are stemmed, and reversed, will be key in the coming year,” Keith said.
At the same time, a “large majority” of focus-group participants expect the Central New York economy to improve in 2014, believing it is “slowly catching up” to levels not seen since before the economic downturn of 2008, Robert Simpson, president of CenterState CEO, said in the release.
“Businesses and the CenterState New York region as a whole will face an array of pivotal opportunities in 2014. Companies are preparing to embrace those opportunities head on by meeting the emerging demands of their industries, expanding their products and services to new markets, both domestically and abroad, and are looking for new opportunities through collaborations and partnerships,” Simpson said.
The forecast report identifies trends that affected the regional economy in 2013, and outlines opportunities and challenges for 2014.
CenterState CEO used input from 236 member-executives and community participants representing 12 counties, along with “exclusive” data and analysis from Manpower, to generate the forecast report, the economic development and chamber-of-commerce organization said.
For example, the report found 58 percent of respondents indicated an average growth rate of 15 percent.
In addition, respondents also indicated expectations for 2014. The report found 68 percent expect an increase in sales and revenue, 53 percent anticipate they’ll expand products and services, 49 percent expect a rise in profit, and 32 percent plan to increase capital investments this year.
The report also identifies “several opportunities and reasons for optimism” across sectors in 2014.
The “broad societal desire” for sustainability will create growth in areas such as alternative fuels and energy sources, hybrid technology, and recycling in 2013, the report found.
Exporting is also viewed as a “vitally important component” in sectors such as manufacturing and could serve as a “great engine” for generating revenue in the region, according to the report.
Contact Reinhardt at ereinhardt@cnybj.com
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SYRACUSE — Economic growth is poised to “modestly accelerate” in 2014 as the “drag” from housing, consumer deleveraging, global trade, and fiscal policy recedes.” That’s according to Gary Keith, regional economist for M&T Bank, the keynote speaker at today’s Economic Forecast Breakfast held by CenterState CEO at the Nicholas J. Pirro Convention Center at Oncenter […]
SYRACUSE — Economic growth is poised to “modestly accelerate” in 2014 as the “drag” from housing, consumer deleveraging, global trade, and fiscal policy recedes.”
That’s according to Gary Keith, regional economist for M&T Bank, the keynote speaker at today’s Economic Forecast Breakfast held by CenterState CEO at the Nicholas J. Pirro Convention Center at Oncenter in Syracuse.
Keith presented an overview of trends in the national and state economies, and their impact on the region, according to a news release CenterState CEO distributed about the forecast breakfast.
“While service-sector hiring should maintain its upward momentum, the extent to which industrial job losses are stemmed, and reversed, will be key in the coming year,” Keith said.
At the same time, a “large majority” of focus-group participants expect the Central New York economy to improve in 2014, believing it is “slowly catching up” to levels not seen since before the economic downturn of 2008, Robert Simpson, president of CenterState CEO, said in the release.
“Businesses and the CenterState New York region as a whole will face an array of pivotal opportunities in 2014. Companies are preparing to embrace those opportunities head on by meeting the emerging demands of their industries, expanding their products and services to new markets, both domestically and abroad, and are looking for new opportunities through collaborations and partnerships,” Simpson said.
The forecast report identifies trends that affected the regional economy in 2013, and outlines opportunities and challenges for 2014.
CenterState CEO used input from 236 member-executives and community participants representing 12 counties, along with “exclusive” data and analysis from Manpower, to generate the forecast report, the economic development and chamber-of-commerce organization said.
For example, the report found 58 percent of respondents indicated an average growth rate of 15 percent.
In addition, respondents also indicated expectations for 2014. The report found 68 percent expect an increase in sales and revenue, 53 percent anticipate they’ll expand products and services, 49 percent expect a rise in profit, and 32 percent plan to increase capital investments this year.
The report also identifies “several opportunities and reasons for optimism” across sectors in 2014.
The “broad societal desire” for sustainability will create growth in areas such as alternative fuels and energy sources, hybrid technology, and recycling in 2013, the report found.
Exporting is also viewed as a “vitally important component” in sectors such as manufacturing and could serve as a “great engine” for generating revenue in the region, according to the report.
