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CEO optimism plunges to two-year low as US economy teeters on brink of recession
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The chief executives of America's biggest companies are feeling increasingly sour about the state of U.S. economy as it confronts the duel threat of high inflation and rising interest rates.
The Business Roundtable said this week its CEO Economic Outlook Index plunged 11 points during the fourth quarter to the lowest level in more than two years. Still, at 73, the index remains above the expansion or contraction threshold of 50.
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"With continued supply chain challenges and inflation uncertainty, many CEOs remain cautious about domestic plans and expectations for the next six months," General Motors CEO Mary Barra, the Business Roundtable chair, said in a statement.
Sentiment fell across the board. Plans for hiring tumbled by 17 points, expectations for sales declined by 8 points and plans for capital investment dropped by 7 points over the last quarter.
THESE BUSINESS TITANS ARE SOUNDING THE ALARM OVER THE US ECONOMY