Area businesses experienced an important recovery in 2021 but have lingering uncertainties, especially as it relates to the negative effect of inflation in 2022, according to the results of Mercer University’s 2021 Middle Georgia Economic Outlook Survey, released today. 

The survey was conducted by the Center for the Study of Economics and Liberty (CSEL) in Mercer’s Stetson-Hatcher School of Business. 

CSEL received responses to its electronic survey from 60 individuals. Dr. Antonio Saravia, associate professor of economics and director of the Center, compiled the results, which can be viewed by clicking here.

“The year 2021 brought an important economic recovery from the deep recession experienced in 2020 due to the COVID-19 pandemic,” said Dr. Saravia. “The economy bounced back as vaccines became widely available and business began to open again. At the same time, both fiscal and monetary policies were highly expansionary providing an additional boost to the recovery. The obvious consequence of the aggressive stimulus was inflation. Most financial and business indices were positive for 2021, but businesses in Middle Georgia identified inflation as the new relevant risk.” 

Respondents represented considerable variety in terms of company size, geography and industry. Most were small businesses under 101 employees, which accounted for 91% of the total number of respondents. The majority had principal offices located in Bibb (45%), Houston (24%) and Baldwin (21%) counties. Respondents represented a wide range of industries, led by retail trade and professional and technical services (14%), followed by wholesale trade (11%). 

The Center for the Study of Economics and Liberty conducts the survey and publishes its results each year. For more information, contact Dr. Saravia at (478) 301-5541 or [email protected].