Publicly, agents and developers are bullish about next year. Privately? It’s the same. What will actually happen in 2000 is quite another matter. Nobody has the answer to that. But it is that time again for those with calendar-year budgeting periods to start hardening up the guesses. So, here are some of those already being made privately.
There are, of course, bears and bulls. So the range is defined by both views. The figures look something like this: income will rise by 5% to 20%. Expenditure will be up by 0% to 15%.
The result, if it happens, will be happiness. Most expect income rises to be volume driven. In other words, more work for the same levels of pay. Most expect expenditure to be driven by increasing headcount, higher-than-inflation salary increases and that bottomless pit, IT.
The view nine-and-three-quarters months into 1999 is that this year is clearly going to be rosy for all but the inept, and perhaps even better than 1998 for the more than competent.
That roseate glow shines more brightly than it might have done, thanks to one phenomenon: this time last year thunderclouds began to surround the economy. Caution was heavy in the air. Expectations were scaled down. But then the clouds cleared. Reality exceeded expectations. Budgets are going to be beaten. Result: happiness.
There are fewer clouds this year, so far. Even so, exercising caution again can only be a good idea.
