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Optimism and Upswing in All Sectors

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Optimism and Upswing in All Sectors

Money - Icelandic Króna

Photo: Páll Kjartansson

Business directors’ assessment of the current employment situation is similar to what it was at the beginning of the financial boom in 2004, and their forecast for the next six months is better than what it was during the boom, between 2004 and 2007, RÚV reports. This is the result of a Gallup poll in which the directors of more than 250 of the country’s largest companies took part.

The poll was conducted for SA-Business Iceland and the Central Bank of Iceland in August and September. The leaders of 439 of the country’s largest companies were polled, and the response rate was 59 percent.

The poll is meant to give indications about the current condition of Icelandic businesses and their future prospects. The answers provided by company leaders point to a robust upswing in the Icelandic economy. Fifty-three percent of respondents believe economic conditions to be good, while only eight percent see them as poor. There is optimism in every sector of society, most apparently in the financial sector.

More and more companies notice a lack of labor. Over a quarter of directors believe more workers are needed— mostly so in construction. Many directors, or 31 percent, foresee having to hire more people in the near future, while only 13 percent foresee layoffs.

Directors foresee a substantial increase in demand nationally, but do, at the same time, expect price increases of their goods and services to be moderate.

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