Studies point to bright future for Bay Area economies 

What recession? A survey released today shows that San Francisco and the Bay Area could be bucking the trend when it comes to the economy.

The results of a consumer confidence survey of Bay Area CEO’s and executives show they are confident the region’s economy is stabilizing and meeting expectations in the post-recession recovery, according to the Bay Area Council.

The business confidence index — the number that distills the survey findings — registered at 61 out of 100, up 3 points from the last survey, according to the council.

“We’re seeing optimism and confidence in all private industry sectors,” said Bay Area Council President Jim Wunderman. “According to our survey, the best place to look for a job over the next 6 months is in San Francisco, on the Peninsula and Silicon Valley, in industries like trade, professional and business services and IT. Another bright spot is that small- and medium-sized businesses are finally showing signs that they might be expanding their workforces over the next few months.”

And McKinsey & Company, which just released its own survey on city wealth, is quick to point out the positivity of those numbers.

“While there remains substantial noise and uncertainty in the world from fiscal problems in Sacramento and Washington, D.C., to world events, clearly the local business signals are positive,” said Lenny Mendonca, Director at McKinsey & Company.

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Brent Begin

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