Atlanta, September 25, 2025
News Summary
A recent survey from the Atlanta Fed indicates rising revenue growth uncertainty among local business leaders, increasing from 3.77% to 3.83%. Concerns over trade policies and tariffs are significant, particularly in the manufacturing sector where 86.5% report high uncertainty. Conversely, employment growth uncertainty has slightly decreased. The impacts of tariffs are weighing heavily on local businesses, with local industries like homebuilding and food production citing increased operational costs and price raises, complicating their financial outlook amid inflation concerns.
Atlanta
Business uncertainty regarding revenue growth has increased among business leaders in the region, as revealed in the latest survey conducted by the Atlanta Fed. The survey, which encompassed approximately 900 business leaders, indicated a rise in revenue growth uncertainty from 3.77% in August to 3.83% in September. This change reflects a growing hesitance in the economic climate, primarily driven by concerns surrounding tariffs and trade policies.
Contrasting this, employment growth uncertainty for the upcoming year showed a slight decrease, dropping from 4.23% to 4.16%. This indicates that while businesses are cautious about revenue, they might feel slightly more secure about their employment numbers.
Approximately 70% of surveyed businesspeople reported experiencing uncertainty due to tariffs or trade policy, with various sectors reporting differing levels of concern. In the manufacturing sector, the uncertainty was particularly pronounced, with 86.5% of its leaders indicating trade policy was a significant concern. Likewise, the retail and wholesale trade sector reported 85.4% uncertainty, while the real estate and construction sectors also felt the impact, with 68.5% citing trade policy as a source of hesitance.
The uncertainty around tariffs has notably impacted the homebuilding sector. Earlier in 2025, homebuilder confidence slipped due to tariff-related concerns, although there has been a slight recovery attributed to pro-business provisions in recent legislation. Survey respondents expect that the uncertainty surrounding tariffs may conclude by November 2025, though this timing remains a topic of significant disagreement among business leaders.
Previously, business uncertainty spiked in May 2020 amidst the onset of the COVID-19 pandemic, after which there was a gradual decline in uncertainty levels. However, current trends indicate that uncertainty regarding trade policy has once again become a critical issue for many businesses.
Local businesses, such as a chocolate factory in Atlanta, are feeling the pressure of increased operational costs stemming from tariffs. These added expenses have forced them to raise wholesale prices, further complicating their financial situations. The ramifications of tariff policies extend beyond individual businesses, with nationwide inflation concerns rising, especially related to consumer goods and construction material prices.
Impact of Tariffs
U.S. Senator Raphael Warnock has characterized tariffs as detrimental to small businesses, noting their role as a “job killer.” He emphasized the vital role that small businesses play in job creation and the need for a stable economic environment to support their growth. Business leaders remain confused and concerned about the overall federal economic and trade policies, suggesting that a clearer strategy is necessary to foster business confidence.
The Atlanta Fed’s findings shed light on the existing atmosphere of uncertainty, underlining that trade policy remains a substantial factor influencing business decision-making. As leaders navigate these challenges, understanding the shifting landscape of tariffs and trade may be essential for planning and growth.
FAQs
What is the current business uncertainty regarding revenue growth in Atlanta?
Business uncertainty about revenue growth (smoothed) for the next four quarters increased from 3.77% in August to 3.83% in September.
What percentage of business leaders are facing uncertainty due to tariffs or trade policy?
Approximately 70% of surveyed businesspeople indicated experiencing uncertainty due to tariffs or trade policy.
What sectors reported high levels of uncertainty due to trade policy?
The manufacturing sector reported the highest level of uncertainty at 86.5%, while the retail and wholesale trade sector reported 85.4% facing uncertainty.
When do business leaders expect tariff uncertainty to conclude?
The median expectation among survey respondents is that tariff uncertainty will conclude in November 2025, though there is significant disagreement about this timeframe.
Key Features Chart
| Feature | August 2025 | September 2025 |
|---|---|---|
| Revenue Growth Uncertainty | 3.77% | 3.83% |
| Employment Growth Uncertainty | 4.23% | 4.16% |
| Manufacturing Sector Uncertainty | N/A | 86.5% |
| Retail and Wholesale Sector Uncertainty | N/A | 85.4% |
| Real Estate & Construction Sector Uncertainty | N/A | 68.5% |
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Additional Resources
- Seeking Alpha: Business Uncertainty Rises
- RISMedia: Atlanta Fed Business Uncertainty Survey
- PYMNTS: Fed Survey on Business Uncertainty
- WSB Radio: Chocolate Factory Faces Tariff Uncertainty
- Saporta Report: Senator Warnock on Business Uncertainty
- Wikipedia: Economics
- Google Search: Business Uncertainty
- Google Scholar: Business Uncertainty
- Encyclopedia Britannica: Business Uncertainty
- Google News: Business Uncertainty
Author: STAFF HERE ATLANTA WRITER
The ATLANTA STAFF WRITER represents the experienced team at HEREAtlanta.com, your go-to source for actionable local news and information in Atlanta, Fulton County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as vibrant music festivals like Shaky Knees and Music Midtown, major cultural celebrations including Dragon Con and the Atlanta Film Festival, and iconic sporting events like the Peachtree Road Race. Our coverage extends to key organizations like the Metro Atlanta Chamber of Commerce and the Atlanta Convention & Visitors Bureau, plus leading businesses in logistics, beverages, and retail that power the local economy such as Delta Air Lines, The Coca-Cola Company, and The Home Depot. As part of the broader HERE network, including HEREAugusta.com and HERESavannah.com, we provide comprehensive, credible insights into Georgia's dynamic landscape.
