Business leaders wary of spending and hiring in current economy: survey

Chief executives and chief financial officers are increasingly worrying about the economy, two separate surveys found.

The CEO Economic Outlook Index, released by the Business Roundtable, found that plans for capital spending, hiring and sales expectations over the next six months “waned” this quarter, due in part to trade policies and slowing global economic growth.

The Index decreased 10.3 points from last quarter, to 79.2, which falls below the Index’s historical average of 82.7.

“The U.S. needs strong, sustained long term economic growth in order to remain globally competitive and expand opportunity for more Americans,” said Jamie Dimon, Chairman and Chief Executive Officer of JPMorgan Chase & Co. and Chairman of Business Roundtable.

Dimon says he and his fellow CEOs at the Business Roundtable “stand ready to work with policymakers to address our nation’s biggest challenges to create conditions for inclusive growth, investment and job creation here in America.”

While the CEO index survey is forward-looking, there was a bit of reflection in the results, too. More than half of them reported that, over the past twelve months, U.S. trade policy and retaliation from foreign nations had “somewhat or very negative impact on sales,” and a third of them reported a similar impact on hiring.

Source: New York Post

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