Last week, GNN ran this link to a CBC story that said the Bank of Canada is holding its key interest rate and has cut its outlook for economic growth in Canada from now until the end of 2015.
That’s hardly good news for any business, including the golf industry, where the season is drawing to a conclusion, giving us more time to ponder such forecasts and risk paralysis by analysis if we read too much into them.
Of course, unemployment, rising prices and other economic data are good indicators of the discretionary income that’s available to golf, but they also tend to be inconsistent. One report will indicate gloominess, the next will show the economy is holding its own.
With the golf industry now focusing its attention on 2014, budgets are top of mind. Is the operation where you work planning some investments in the property? Are budgets going up, down or staying the same as in 2013?
While pondering these questions, how much attention are you paying to such published economic forecasts, employment reports etc.?
Will they play a role in decision-making, or are you more likely to study what transpired specifically within your own operation the year before as you consider budgets and the money to be spent next season?
That’s the topic of this week’s GNN Poll. Does the operation where you work put much stock in published economic polls?
How much does attention will you pay to published Canadian economic forecasts when planning for 2014?
- Very little attention (59%)
- No attention (21%)
- A lot of attention (21%)
Please feel free to add any thoughts you might have in the Comment section below.