Survey: Md. Business Closed Out 2018 With Sales & Employment Growth
FOR IMMEDIATE RELEASE:
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CONTACT |
Henry Fawell |
Survey: Md. Business Closed Out 2018 With Sales & Employment Growth
ROCKVILLE, MD (January 15, 2019) — Maryland businesses closed out 2018 with strong growth in sales and employment compared with the previous year, according to the Maryland Business Climate Survey. The survey is a joint project between the University of Baltimore’s Jacob France Institute and the nonpartisan Maryland Public Policy Institute.
The survey of senior executives at 250 Maryland businesses provides quantitative glimpse into the sentiment of the state’s business leaders during the fourth quarter of 2018. Among the key findings of 2018 Q4 Maryland Business Climate Survey:
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Fifty-seven percent of firms reported an increase in sales compared with the previous year, while 12 percent reported a decrease. In the third quarter of 2018, 50 percent reported an increase in sales and 13 percent reported a decrease compared with the previous year.
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Forty-four percent of firms reported growth in employment and 9 percent of firms reported a decrease in employment when compared with the previous year. In the third quarter of 2018, 37 percent of firms reported growth in employment and 8 percent reported a decrease compared with the previous year.
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Seventy-four percent of firms surveyed expect to see an increase in their sales in the coming year, while 2 percent expected their revenues to decline, up from 69 percent of firms expecting revenue growth in the third quarter.
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Fifty-three percent of the businesses surveyed expect to increase their employment in the coming year, while 2 percent expected that their employment will decline, on pace with the 55 percent of firms expecting to add jobs reported in the third quarter of 2018.
Read the full survey findings and methodology at mdbusinessclimate.org.
About the Maryland Public Policy Institute: Founded in 2001, the Maryland Public Policy Institute is a nonpartisan public policy research and education organization that focuses on state policy issues. The Institute’s mission is to formulate and promote public policies at all levels of government based on principles of free enterprise, limited government, and civil society. Learn more at mdpolicy.org.
About the University of Baltimore’s Jacob France Institute: The Jacob France Institute serves as a leading source of high quality statistical information and research covering the interaction of business, worker, education, social service, community development, and government investment decisions.
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