The Business Roundtable said on Monday that its CEO’s economic outlook fell to 115 readings during the first quarter. The CEO also showed lower employment and investment plans and lower expectations for sales.
The group, which is made up of CEOs of top US companies, emphasized that despite the downturn, the survey still reflects historically strong recruitment plans and growth expectations. However, the timing of the investigation conducted between February 22 and March 11 means that some business leaders shared their feelings before the full scale of Russia’s invasion of Ukraine was known. It is important to note that you do.
The economic impact has been widespread since the war began on February 24th. Among other factors, Western nations are threatening to impose strict sanctions on Russia and disrupt the supply of energy, food and other important materials.
And it’s not just Ukraine. The Business Roundtable acknowledged that Covid-19’s continued risk and rising inflation also created uncertainties, especially when asking CEOs to look to the second half of this year.
The announcement of the investigation will be made on Monday night at the Group’s Washington office prior to an upcoming meeting between President Joe Biden and members of the Business Roundtable.
In a statement, Josh Bolten, CEO of the Business Roundtable, called on US authorities to strengthen the economy “in this uncertain time” by maintaining a competitive tax system and regulatory environment. He encourages policy makers to deal with inflation by lowering tariffs, promoting trade, encouraging domestic energy production, and working with business and worker leaders to deal with supply chain stress. Prompted.
GM (GM) CEO Mary Barra, chair of the Business Roundtable, has introduced a bipartisan bill to fund the CHIPS Act aimed at addressing the shortage of computer chips by boosting domestic chip manufacturing. I urged Congress to pass it.