Recently KPMG LLP, a tax, audit, and advisory firm did a survey of executives in a series of different industries. It’s fascinating to read some of the results as they seem to have a general upward trend. Now, I know there is still a pervading feeling of dread in regards to the economy, but there are times when one must admit that something is going well. From personal experience, I can say that when executives in the upper levels of the corporate infrastructure start predicting improvement, especially when it benefits them more for those encouraging faith in failure to reach an audience, then you can tell that there’s something behind it.
Let’s begin with the financial sector, which was undoubtedly hit hardest by the economic meltdown. As they were the major architects of it, I feel that this is somewhat karmic, but I digress. However, executives in the financial industry are actually predicting that revenue and profitability will improve in 2010. They recognize the importance of job growth, but I happen to agree that that’s not a sector in which we’ll see significant job growth any time soon. They’ll simply have to hope that jobs in other industries will help restore consumer confidence so people will come to them for loans. Feel free to take a look at it.
On the other hand, the technology industry expects to lead the economic recovery. As somebody who considers himself a nerd (I owned a slide rule at one point and know how to use it), I’m actually delighted by their confidence. I feel that if we’re going to stay competitive, technology is where we need to concentrate. The potential for business solutions makes it an invaluable sector of the economy, streamlining and enhancing all other sectors. That they expect job growth within the industry as well is simply a bonus.
KPMG did a wide range of surveys that seemed to point inexorably in one direction: economic recovery. This despite the best efforts of politicians, the economy will continue to grow due to smart policies and the confidence of the public and business leaders.
