The Chief Executive Officers of America’s top companies are optimistic for the outlook of the US economy and anticipate increased capital expenditure and sales. However, they do not expect there would be any significant improvement in employment, according to the results of the Business Roundtable’s fourth quarter 2009 CEO Economic Outlook Survey. Business Roundtable CEOs also cited health care as their top cost concern going into 2010.
The Business Roundtable CEO Economic Outlook Survey’s Index expanded to 71.5 in the fourth quarter of 2009, up from 44.9 in the third quarter and 18.5 in the second quarter.
“The economy is in the throes of a long transition back to health; recovery will be long, extending beyond 2010,” said Ivan G. Seidenberg, Chairman of Business Roundtable and Chairman and CEO of Verizon Communications. “The outlook of our CEOs reflects that reality: we see noticeable gains in sales and capital spending, but employment growth continues to lag.”
In terms of the overall U.S. economy, member CEOs estimate real GDP will grow by 1.9 percent in 2010.
Business Roundtable is an association of chief executive officers of leading corporations, representing a combined workforce of more than 12 million employees and nearly $6 trillion in annual revenues.
The survey was completed between November 5 and November 30.
