Despite the situation in the Middle East, the confidence of CEOs of large American companies in the economy continues to strengthen, reaching a new high in over a year
The confidence of CEOs of large American companies continued to strengthen in the first quarter. According to a survey released on Wednesday, the Business Roundtable's CEO Economic Outlook Index rose by 9 points to 89, reaching a new high in over a year. An index above 50 indicates expectations for growth in capital spending, sales, and hiring over the next six months. Hiring plans have improved, but about one-third of CEOs still indicated that they plan to lay off employees in the coming months
Despite the uncertain global economic situation, the war in Iran has driven up energy prices and caused market turmoil, but the confidence of CEOs of large American companies has still increased in the first quarter.
According to a survey released on Wednesday, the CEO Economic Outlook Index from the Business Roundtable rose 9 points to 89, reaching a new high in over a year. A reading above 50 indicates expectations for growth in capital spending, sales, and hiring over the next six months.
The survey was conducted from February 23 to March 6, with participation from 169 CEOs. During the survey period, the U.S. Supreme Court had just overturned several comprehensive tariff policies of President Trump, and the U.S. and Israel had also launched attacks on Iran.
Chuck Robbins, Chairman and CEO of Cisco Systems and Chair of the Business Roundtable, stated in a release: “The results indicate that last year's tax reform, responsible deregulation, and the resilience of the U.S. economy have all played a role. We look forward to continuing to work with the Trump administration and Congress in the coming months to advance policies that can drive long-term growth.”
Hiring plans have improved, but about one-third of CEOs still indicated they plan to lay off employees in the coming months.
