LI business poll sees stability ahead
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Long Island's economy likely will end the year as it began it, according to a poll of bankers, lawyers and accountants who work for medium-sized businesses.
The New York chapter of the Association for Corporate Growth said Monday that 66 percent of members surveyed last month described the local economy as stable. Thirty-two percent said it was declining, and 2 percent said it was growing.
Asked where the local economy would be at year's end, 59 percent said about the same place as in December 2012; 24 percent said it would be either better or much better, and 17 percent chose worse or much worse.
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Fifty-nine people completed the written survey, many of them at the association's economic forecasting event on Jan. 10 at Hofstra University. The survey was first conducted last year.
Barry Garfield, the association's Long Island chairman and a partner at the accounting firm of Holtz Rubenstein Reminick Llp in Melville, said the membership "reflects a cross-section" of the local business community and its attitudes.
Fifty-four percent of the business professionals surveyed said the local economy would not fall into recession this year; 12 percent said it would.
They also predicted health care and pharmaceuticals would be key drivers of commercial activity.