A recent survey by the Business Roundtable, obtained exclusively by Axios, reveals that economic sentiment among top U.S. CEOs has dropped to its lowest level since 2020. This decline reflects growing concerns over trade policy and its impact on hiring, investment, and sales growth expectations. The CEO Economic Outlook Index fell by 15 points to 69, significantly below its historical average of 83, though it remains above recession levels. Notably, the employment subindex saw a sharp decline of nearly 19 points, with over 40% of CEOs planning workforce reductions in the next six months. Additionally, capital expenditure and sales expectations also declined, signaling caution among business leaders. Joshua Bolten, CEO of the Business Roundtable, emphasized the need for predictable trade policies and pro-growth tax legislation to restore confidence. The survey of 169 members took place in early June amid U.S.-China trade tensions. Cisco CEO Chuck Robbins highlighted the urgency for legislative action to support economic stability.
— new from Axios
