Last year's widespread optimism that business would improve in 2016 has been replaced with growing pessimism as seen by the 34% drop in confidence in the 2016 Business Outlook Survey Report. The reasons behind this decline range from a fear during the election year to government regulation and partisanship.
While that fear appears to be growing, people are confident in their own busineses:
And yet, there is considerably more confidence in the business conditions of their own organizations. In fact, 63 percent say business conditions will improve at their companies—a less than 10 percent decline from last year. Fifty-one percent predict modest improvement and 12 percent believe the improvements will be significant.