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January 8, 2024 Economic Outlook Survey

Economic Survey: HBJ readers more optimistic about 2024

Photo | Andy Hart Fireworks in downtown Hartford.

Will the Fed lower interest rates in 2024? Is there still a threat of recession? Will the labor shortage ease?

Those are some of the major economic questions as we start the new year. 

Hartford Business Journal readers are more optimistic about 2024 than they were a year ago. 

In fact, 43.6% of HBJ readers say Connecticut’s economy will improve significantly or slightly this year. A year ago, 36.45% of readers predicted the economy would improve in 2023. 

Meanwhile, 28.4% of readers expect the state’s economy to decline in 2024, while 28% expect no growth. 

Those were some of the findings from Hartford Business Journal’s 2024 economic outlook survey, the results of which are featured here.

The survey, sponsored by NBT Bank, was emailed to more than 12,000 HBJ Today subscribers. The unscientific results were gathered over a three-week period in November and early December, garnering nearly 300 responses. 

Of those surveyed, 80% said they work at privately-held companies and 57.8% said their business has fewer than 50 employees.

The results provide a window into how the state’s economy will perform in 2024.


How will your office space needs change in 2024?

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