In this 2017 Business Optimism Report, business leaders have been polled by JP Morgan Chase. Many are optimistic. The Global Economic optimism index is trending at 30%. An increase of 20 points. On the National level business optimism is trending at 80%. An increase of 41 points. In the Local economy, that's your city or state, it's trending at 68%. Up 18 points. This confirms businesses will be spending, investing, expanding and hiring in 2017. We are expecting to see a tightening of office space in the leasing market, and some scarcity of available land for new business/building construction. The identification and availability of existing buildings for purchase may be hampered by where the buyer needs the facility to be located and its size. Many business owners and executives are optimistic about less government regulation and overall tax cuts. With overall optimism comes the easing of capital in the financial markets that will allow businesses to pay for your services via loans and expanded credit lines.
There is further discussion in Washington, DC about tax cuts on capital gains, reducing the corporate tax rate to 15% on businesses and reducing the tax burden on the middle class. Combine these possible economy stimulating measures with additional tax credits for most tax payers, and we have a recipe for an increase of disposable income and a further increase in consumer purchasing power and confidence with the willingness to buy. The new and used car markets are also expected to grow and benefit from this optimism, as many of the business affected and their employees help to drive economic output and buying decisions. The updating of older vehicles from used to new, and those trades-ins will drive the need for other products and services associated with the auto industry (auto repair, parts, tires).
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