Four regional business publications launched identical surveys Monday to gauge how companies across the Northeast and Great Lakes regions are adapting to mounting economic uncertainty, marking a coordinated effort to capture business sentiment as the U.S. economy shows signs of strain.
The "Navigating the New Economy" surveys launched simultaneously by Rochester Business Journal, Long Island Business News, NJBIZ, and Central Penn Business Journal aim to understand how businesses are responding to what economists describe as a pivotal moment for the American economy.
Each publication partnered with Best Companies Group, a national business research firm, to deploy the five-minute surveys across their respective markets1234. The Rochester survey is sponsored by Five Star Bank, Just Solutions Inc. and St. John Fisher University, while Long Island's version is backed by UHY12. NJBIZ secured sponsorship from Forvis Mazars and ConnectPay, and the Pennsylvania survey is sponsored by Herbein34.
Participants receive exclusive access to summary results, offering early insights into regional business adaptation strategies1234.
The survey launch comes as recent economic data reveals concerning trends. The U.S. economy contracted 0.2% in the first quarter of 2025, marking the weakest growth in three years, according to the National Federation of Independent Business1. A separate analysis suggests the decline may have been steeper, at 0.5%2.
Business confidence has eroded substantially. According to J.P. Morgan's Business Leaders Outlook Pulse Survey released last week, optimism for the national economy plummeted from 65% in January to 32% in June3. Meanwhile, recession expectations among business leaders nearly tripled, from 8% to 25%3.
The surveys emerge as companies grapple with multiple challenges simultaneously. J.P. Morgan found that 44% of business leaders have delayed plans to some extent, with policy uncertainty cited by 74% of those making changes1. Market volatility and shifts in customer demand each affected 37% of respondents1.
The top three challenges facing companies are uncertain economic conditions, cited by 55% of leaders, followed by tariffs and revenue growth concerns, each mentioned by 41%1.
EY economists anticipate real GDP growth will decelerate from 2.8% in 2024 to 1.5% in 2025, with recession probability over the next 12 months standing at 35%2.
Despite the challenges, business leaders maintain confidence in their individual company performance, with 85% of J.P. Morgan survey respondents projecting steady to increased performance through year-end1.
