Dr. Chhoda analyzes the Q3 2020 CEO Economic Outlook Survey, a composite index of CEO plans for capital spending and employment and expectations for sales over the next six months, from the Business Roundtable.
Roughly 1 in 4 chief executives of some of the nation’s largest companies say their businesses have recovered or will have by year end, despite the lingering ill effects of the coronavirus recession, according to a survey.
Business Roundtable surveyed 149 members about projected sales, capital spending and hiring for the next six months. The CEO Economic Outlook Survey rose to 64.0 in the third quarter, the headline index’s first quarterly increase in nine quarters, according to a report released Wednesday. The index is up 29.7 points since last quarter but remains well below the historical average of 81.7, which dates to 2002.
But the economy remains fragile, they say, and the federal government must provide “further major support” to ensure it does not backslide.
More than a third of the group — whose members include the CEOs of Apple, JPMorgan Chase and Chevron — expect economic conditions to remain bumpy until 2022 or later. The poll, taken from Aug. 31 to Sept. 16, showed a gradual economic recovery from the pandemic, mirrored in the labor market, consumer spending and industrial production. But the findings highlight they don’t see the recovery reaching every sector soon, particularly small businesses.
TABLE OF CONTENTS
0:00 We Need More Stimulus
1:57 Components of the Index
4:49 CEO Survey Results and Sub-Indices
6:47 The Community is Asking for More Stimulus
TABLE OF CONTENTS
0:00 An Interesting Point from Mark Cuban
2:06 A K-Shaped Recovery
3:53 Mark Cuban’s Statement on the Radio
5:34 Risks in Mark Cuban’s Plan
7:48 More Support for Low Income Earners
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