Most business leaders in Arizona are expecting a recession and sustained higher costs this year, but they don’t seem to be letting that dampen their optimism too much.
Two main takeaways from the surveys are that most business leaders across the board expect a recession and the vast majority of them are facing challenges from rising expenses — including supply and labor costs. Some of those expenses are being passed on to customers, and that isn’t likely to change anytime soon, the survey found.
Those national pressures are being felt by business leaders in Arizona too, of course, but many indications from the surveys suggest that Arizonans are feeling a bit more positive about the overall situation than leaders in other states. In fact, 59% of Arizona respondents said they were optimistic about their local and regional economy, in contrast to 50% of respondents nationally.
Those figures suggest that both inside and outside the Grand Canyon State, a large chunk of executives feel upbeat about their own companies and industries, even if they aren’t quite as confident about everybody else.
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