• Restoring sanity to SA

    We should be driven by the thought that SA belongs to all who live in it, says Solly Moeng.

  • Clamouring for action

    2017 will see battles between politicians as well as those tired of politicking, says Daniel Silke.

  • Realistic dreaming

    Preparation and sound advice will turn entrepreneurial dreams into reality, says Ian Mann.

All data is delayed
Loading...
See More

US CEO confidence hits 3-year low

Sep 26 2012 17:36
Reuters
New York - US chief executives’ view of the economy deteriorated sharply in the third quarter and is now as bleak as it was in the immediate aftermath of the last recession, with more planning to cut jobs over the next six months, according to a survey released by the Business Roundtable on Wednesday.

The group’s CEO Economic Outlook Index tumbled to 66 in the third quarter from 89.1 in the second, in the sharpest drop recorded in the survey’s decade-long history.

Confidence fell to its lowest point since the third quarter of 2009, when the US had just emerged from its worst recession in 80 years, but remained above the 50 mark separating growth from decline.

Among US CEOs, 34% expect to cut jobs in the United States over the next six months, up from 20% a quarter ago, while 30% plan to raise capital spending, down from 43%. Over that time period, 58% expect their sales to rise 34%, down from the previous survey’s 75%.

The survey comes less than two months ahead of the US presidential election, in which the weak economy and stubbornly high unemployment are shaping up to be key elements in voters’ choice between incumbent Democratic President Barack Obama and Republican challenger Mitt Romney.

Investors will get a more detailed look at corporate confidence next month when top US companies including Alcoa, JPMorgan Chase and General Electric report quarterly results.

The survey of 138 CEOs was conducted from August 30 to September 14.

*Follow Fin24 on Twitter, Facebook, Google+ and Pinterest.
usa

NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Comments have been closed for this article.
 

Company Snapshot

We're talking about: SMALL BUSINESS

From fossils to finance – that’s been the career trajectory of Dr Merrill van der Walt, a palaeontologist until recently. She is now a statistician with a difference.
 

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

SA's avoidance of junk status by rating agencies: Moody's and Fitch

Previous results · Suggest a vote

Loading...