CEO optimism drops for 7th straight quarter

CEO optimism drops for 7th straight quarter
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A closely-watched index of CEO hiring, sales and spending plans declined again, according to a survey of some of the biggest corporations in the U.S. by Business Roundtable, their trade group.

Why it matters: The survey has shown declining optimism for almost two years. As we get closer to the 2020 election, the record-high CEO optimism levels that peaked during Trump’s presidency have now vanished — largely thanks to trade war uncertainty.

Details: CEOs are “cautious in the face of uncertainty over trade policy and an associated slowdown in global growth and the U.S. manufacturing sector,“ Business Roundtable points out. The survey was conducted prior to reports of progress with USMCA and a potential delay in another round of tariffs on Chinese imports.

  • CEO plans for hiring and capital appending — two key drivers of economic growth — fell quarter over quarter.
  • Expectations for sales growth, though, increased.

Source: Axios

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