CEO confidence drops into negative territory
Summary
A survey shows that U.S. CEOs' confidence in the economy has dropped below a neutral point, meaning they now feel negative about the economy's direction. Despite their worries about issues like inflation, cybersecurity, and rising energy costs, most CEOs still plan to increase hiring and invest in their businesses.Key Facts
- The CEO Confidence Index fell to 46, down from 52 three months ago; a number below 50 means negative sentiment.
- The survey included 131 CEOs from large public companies, taken between Sept. 21 and Oct. 5.
- 41% of CEOs expect the economy to get worse, up from 19% in the last quarter.
- CEOs are more concerned about cybersecurity, artificial intelligence (AI), and global political issues than before.
- 94% of CEOs listed cybersecurity threats as a top worry related to AI.
- Higher energy prices, especially for diesel, added to CEOs’ concerns.
- Although CEOs feel pessimistic, 89% say they plan to increase the number of employees over the next three years, as AI drives new opportunities.
- CEO Tim Walsh from KPMG said AI expansion could grow business and job opportunities despite economic worries.
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