SOUTH BEND/ELKHART, Ind. – The Michiana Benchmark Business Index, published by Kruggel Lawton, increased in the 2nd quarter of 2014 by over four percent from the previous quarter. The overall Benchmark Business Index score for the 2nd quarter was of 65.22 out of maximum possible of 100, versus 62.50 for the first quarter of 2014.
The survey is conducted quarterly among chief financial officers (CFOs) in for-profit companies in the Michiana region. It is comprised of four questions about companies’ revenue, profitability, and employment level compared to the same quarter during the prior year, along with CFOs’ perception of business outlook for their companies. The benchmark index is a composite score of all four questions to provide a general gauge of the Michiana area business climate.
For the 2nd quarter of 2014, revenue and employment metrics each increased by approximately nine and seven percent from the prior quarter. The profitability metric increased by nearly three percent, and the CFO Outlook metric stayed constant with the prior quarter. This marks three consecutive quarters in which the CFO Outlook metric was higher than 70 on a 100-point scale.
“We are encouraged to see the increase in the Benchmark Business Index in the 2nd quarter. That corresponds to what we are seeing and hearing anecdotally among for-profit companies in the Michiana area. Revenues have been increasing and companies are responding to opportunities by hiring more employees, which is beneficial for our communities,” said Terry J. Bush, SPHR, a director at Kruggel Lawton. “CFO optimism about business outlook remaining at a high level is also a positive sign, since CFOs have unique insight into their companies’ business performance and outlook.”
If you are a CFO or controller in a Michiana area for-profit business and would like to participate in this survey and receive results, please contact Terry Bush at firstname.lastname@example.org or call 574.289.4011, ext. 205.