While businesses in Regina remain optimistic about the future, overall confidence in the economy is down heading into 2019.
The final Regina Executive Leadership Outlook – a survey done by Economic Development Regina and the locally-based consulting firm Praxis Consulting – shows executive confidence is down 19 points from the previous quarter for the greater Regina area. Despite it being lower, it is still above the neutral point, which means executives still remain optimistic about the future.
According to a news release from Economic Development Regina, the decrease can be attributed due to an increase in the number of executives who expect the economy to remain the same next year.
A majority of respondents to the survey said they believe their revenue will either increase or stay the same with fewer expecting to see a decrease.
The year began with an all-time high for executive confidence but a few factors have played a role in a shift towards the status-quo. Those include over-supply in the housing market which lead to less construction activity, the renegotiation of long-term international trade agreements and challenges within the oil and gas market.