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New report expects more than half of businesses will
go into 2009 with unprecedented pullback in capital spending.
from AICPA Custom Media Solutions
It’s the recession, stupid. Yes, it has finally
reached sales. Key businesses are pulling back and heading into
2009 with abysmal visibility. Latest survey conducted by ChangeWave
(a subsidiary of InvestorPlace Media, LLC), a capital research network,
found more than half (51%) of survey respondents projecting that
their company sales will come in below plan for Q4 2008, 16 points
worse than the previous quarter. The survey also found:
- Thirty-one percent of respondents say there
are less new hires in their company at this point in Q4 vs. last
- Thirty percent of respondents said that it is
harder for their company to borrow money than it was just 90 days
- Sales pipeline projections for Q1 2009 show
39 percent of respondents reporting they'll come in below plan;
- Forty-five percent of respondents estimate a
decrease in their company's 2009 Q3 capital budget compared with
the current quarter.
corporate quarterly survey was completed on December 1, with a sample
of more than 3,000 U.S. respondents.