CEOs are losing confidence, new survey finds
Summary
A recent survey found that CEOs of major global companies have lost confidence in the economy, mainly due to the ongoing war in Iran. This drop in confidence may slow down hiring and investment, which could affect economic growth.Key Facts
- CEO confidence fell 12 points in the second quarter to a level of 47; a number below 50 means more CEOs feel negative than positive.
- The survey included 141 CEOs from Fortune Global 500 companies and was conducted from May 4 to May 18.
- Nearly half (47%) of CEOs said economic conditions have worsened compared to earlier this year, up from just 8%.
- Only 15% of CEOs think economic conditions are better now than six months ago, down from 39% in the first quarter.
- CEO confidence had increased after President Donald Trump took office due to hopes for reduced regulation and tax cuts.
- Optimism fell after changes in tariff policies and has now dropped further because of the Iran war.
- Despite lower confidence, many CEOs still plan to increase spending on investments in the coming year.
- General American optimism about the economy is also low, according to other recent surveys.
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