Slower hiring. Weaker spending. And softer growth. That’s what America’s CEOs are bracing for as the economy heads into 2023 facing a series of obstacles.
The Business Roundtable said Monday its CEO Economic Outlook Index tumbled during the fourth quarter to the lowest level in more than two years. The index, a composite of CEO plans for business investment, hiring and sales expectations, has declined every quarter this year, plunging from 124 a year ago to 73 now.
CEOs surveyed by the Business Roundtable are now calling for growth of just 1.2% next year, down from nearly 6% in 2021. “With continued supply chain challenges and inflation uncertainty, many CEOs remain cautious about domestic plans and expectations for the next six months,” GM CEO Mary Barra, who chairs the Business Roundtable, said in a statement.
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