Biz confidence index takes dive. (Business Confidence Index)

Outlook on economy dims as execs fret about Boeing, government

In the past few months, local executives have done a startling about-face in their outlook on the region's economy.

The Business Confidence Index, a regional indicator co-sponsored by the Puget Sound Business Journal and Hebert Research Inc., plummeted by nearly 40 points in the first quarter of 1993. James Hebert, president of Hebert Research, said the current index stands at 36.8, down from 76.7 in December. It's the biggest drop and lowest mark ever recorded in the three years that the survey has been conducted, Hebert said.

The Business Confidence Survey is a telephone poll of 200 local chief executives and chief financial officers. The quarterly survey asks senior decision-makers in various industries -- including manufacturing, services, construction, financial, retail, health, wholesale and agriculture -- to assess their economic outlooks for the region in the coming quarter.

Faced with impending Boeing layoffs, higher taxes and uncertainty about growth-management issues, …