SAN ANTONIO (San Antonio Express-News) – The business community has “cautious optimism” about the economy, Real Estate Center Chief Economist Dr. Mark Dotzour said yesterday in San Antonio.
“The boat is moving from choppy waters to calmer seas,” said Dotzour, speaking at the 2011 Executive Economic Outlook hosted by Frost Bank and Ernst & Young.
He said the country is slowly adding jobs, manufacturing is up and corporate profits are rising, which usually leads to hiring.
Even so, he said small businesses remain extremely reluctant to hire, with only 5 percent of owners believing it’s a good time to expand, and are still having trouble getting the credit needed to operate.
“Every day that goes by, people are running out of working capital,” Dotzour said.