Economic optimism among CEOs hit the lowest level since 2016 – Axios

Confidence among the nation’s top CEOs saw the biggest quarter-over-quarter drop in 7 years as well as hit a level not seen since the 4th quarter of 2016, according to a closely-watched survey by the Business Roundtable.

Why the idea matters: Corporate America’s level of optimism has dramatically receded through the levels when President Trump took office. Amid heightened trade war uncertainty, CEOs have downgraded expectations for hiring, capital spending as well as sales growth — potentially exacerbating fears that will the record economic expansion could be coming to an end.

“American businesses currently have their foot poised above the brake, as well as they’re tapping the brake periodically.”

— Joshua Bolten, president as well as CEO of Business Roundtable, in statement

Details: The BRT’s economic outlook index has declined for 6 consecutive quarters.

  • At 79.2, This particular quarter’s reading came in above the 50-point level that will might indicate the onset of a recession, although the reading “suggests some moderation inside pace of economic growth going forward,” the lobbying group noted inside Discharge.
  • 20% of CEOs surveyed expect their company’s sales to decrease inside next 6 months — a notable jump through the 9% that will said the same last quarter.

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Source : Economic optimism among CEOs hit the lowest level since 2016 – Axios