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US CEOs' view of economy worsens
Source: Agencies |
September 27, 2012, Thursday
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Print Edition
Print Edition
AMERICAN chief executives' view of the economy deteriorated sharply in the third quarter and is now as bleak as it was in the immediate aftermath of the last recession, according to a survey released by the Business Roundtable yesterday.
The group's CEO Economic Outlook Index tumbled to 66 in the third quarter from 89.1 in the second, in the sharpest drop recorded in the survey's decade-long history
Confidence fell to its lowest point since the third quarter of 2009, when the US had just emerged from its worst recession in 80 years. But the gauge remained above the 50 mark separating growth from decline.
Thirty-four percent of the 138 American CEOs surveyed expect to cut jobs in the US over the next six months, up from 20 percent a quarter ago, while 30 percent plan to raise capital spending, down from 43 percent. Fifty-eight percent expect their sales to rise over that time period, down from the previous survey's 75 percent.
The group's CEO Economic Outlook Index tumbled to 66 in the third quarter from 89.1 in the second, in the sharpest drop recorded in the survey's decade-long history
Confidence fell to its lowest point since the third quarter of 2009, when the US had just emerged from its worst recession in 80 years. But the gauge remained above the 50 mark separating growth from decline.
Thirty-four percent of the 138 American CEOs surveyed expect to cut jobs in the US over the next six months, up from 20 percent a quarter ago, while 30 percent plan to raise capital spending, down from 43 percent. Fifty-eight percent expect their sales to rise over that time period, down from the previous survey's 75 percent.
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