Senior middle-market dealmakers and their advisors in the New York City area hold mixed views about America’s economic performance this year, according to survey results issued by ACG New York.
A substantial minority (46%) of the dealmakers and advisors say the U.S. economy at the end of 2013 will be about the same compared with the end of 2012. However, 43% of respondents said it will be better. Meanwhile, 11% believes it will be worse.
“We believe attendees at our events reflect a cross-section of the deal-making community not only in the New York area but across the nation,” Martin Okner, ACG New York president and managing director, SHM Corporate Navigators.
In keeping with the view that things are likely to stay the same or get better, a majority of the respondents (58%) say it is unlikely or very unlikely that the U.S. economy will enter a recession in 2013. However, a sizeable minority are worried or pessimistic (42%), saying that it’s an even bet that a recession will occur (34%) or that its occurrence is likely or very likely (8%).
Respondents split on whether U.S. unemployment at the end of 2013 will be higher or lower or the same as the 7.8% reported by the Department of Labor for December 2012. A total of 84% say it will either be unchanged or lower, but a total of 54% say it will either be unchanged or higher. Those who say it will be lower outnumber those who say it will be higher by almost three to one.
A substantial majority (74%) of the dealmakers say their firms’ overall unit volume will increase by year-end 2013 over year-end 2012. However, a noticeable 26.4% say their firm’s unit volume will remain the same (22.6%) or decrease (3.8%)
Most (93%) think their firm’s employment at the end of 2013 will be the same (47%) or increased (46%) from year end 2012. However, 7% say their firm’s employment will have decreased. This question was not asked of attendees at the Long Island event in January or of those attending previous events.
ACG New York is a membership organization in New York that facilitates relationship building and focused education for middle-market deal-making professionals.
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