New York State Business Climate Study, May 2001

New York State businesses generally perceive the economic climate nationally and in New York to be bleak, but not specifically for them. As pessimistic as they seem - they said business conditions are worse than a year ago, more bad economic news is on the way, and President Bush's tax cut plan will have little or no effect on their businesses, nonetheless, they are planning to invest in their businesses and in their workforce.

There does not seem to be a relationship between the businesses' assessment of the national business climate and their plans to invest in their businesses and/or to add employees, but there does seem to be a positive correlation between how they rate the state's policies, and whether they will make a capital investment and/or add to their workforce.

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