September 14, 2023
US company leaders are much less optimistic about enterprise outlook and employment amid a slowing economic system, in response to the Enterprise Roundtable’s Q3 2023 CEO Financial Outlook Survey, launched Tuesday.
The report makes use of survey outcomes to create a composite index of CEO plans for capital spending and employment over the subsequent six months, in addition to expectations for gross sales.
The index dipped to a studying of 72 for the present quarter, down a modest 4 factors from the second quarter; it stays beneath its historic common of 84.
“With an economic system that’s slowing, not stalling, CEOs proceed to reasonable their plans and expectations for the subsequent six months, notably in employment,” Enterprise Roundtable CEO Joshua Bolten stated in a press assertion. “Whereas two-thirds of our corporations intend for hiring to extend or keep the identical, roughly a 3rd anticipate to reduce.”
In the meantime, the “plans for hiring” subindex decreased by 11 factors to a worth of 45, whereas the “expectations for gross sales” subindex fell by one level to a worth of 103. Nonetheless, the “plans for capital funding” subindex elevated by one level to a worth of 69.
One other discovering within the report: CEOs mission the US gross home product to develop 2.1% this yr.
“Whereas the US economic system is resilient, it’s more and more essential for policymakers in Washington to work along with the enterprise neighborhood to advance pro-growth insurance policies for America,” stated Enterprise Roundtable Chair Mary Barra, chair and CEO of Common Motors. “Enterprise Roundtable is dedicated to working with Congress and the administration to construct on the successes of current bipartisan laws to strengthen our economic system.”
The survey contains responses from 143 CEOs and was performed between Aug. 23 and Sept. 8.
