Nearly half expect another dip in the economy

CHERRY HILL, N.J., Feb. 22 /PRNewswire/ -- In a recent survey sent to 1,800 New Jersey and Philadelphia regional CEOs and CFOs by the Alloy Silverstein accounting firm, 70 percent of those responding feel that the unemployment rate will be ten percent or higher by the end of the year with a majority believing jobs are the most important national and local issue.

The February survey reveals that over half of New Jersey and Pennsylvania businesses want its governor to address government bureaucracy as the top priority, even ahead of taxes.

"It is clear that businesses prefer the governors' administration to address the onerous rules and regulations, protocol, officialdom and paperwork. And it is no surprise this survey reveals a majority are against raising taxes to balance the budget while 82 percent support cutting services to do so," commented Ren Cicalese, shareholder and officer of The Alloy Silverstein Group, ranked as the 19th largest accounting firm with offices in the Greater Philadelphia Region.

In the quarterly Alloy Silverstein survey three months ago, 40 percent saw the local economy slipping, compared to 30 percent now. Three months ago 37 percent of respondents felt the economy was stabilizing, compared to the current 55 percent. However, 48 percent felt we are in for another economic downturn in 2010.

A whopping 91 percent will not let the recent terror events alter their travel plans. In fact, terrorism barely registered as an important national issue over the last six months by this group.

"Although surveys taken by Senate elect Scott Brown's campaign in Massachusetts indicated terror topped the economy, it doesn't appear to be a large enough issue in this area to affect travel plans," noted Cicalese.

The February 2010 Alloy Silverstein survey represents 118 responses from companies throughout New Jersey and Southeastern Pennsylvania including Philadelphia, Delaware, Montgomery, Bucks and Chester Counties.

SOURCE Alloy Silverstein

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