The best laid plans
As the year draws to a close, businesses around the country have been getting taps on their shoulder from senior leadership about plans for 2023. On the whole those plans are probably a bit less expansive than they were 6 months ago (except maybe for OpenAI and CampbellSoup).
The latest data from the Business Roundtable, a quarterly survey of the nations top executives, revealed that the flagship CEO economic outlook index has fallen to its lowest level in more than two years, suggesting CEOs are beginning to feel more nervous about the economy.
Although CEOs are feeling less confident, the key threshold for this index is 50. Anything north of 50 indicates continued expansion — anything below represents CEOs expecting a contraction. In a potentially early signal for the job market, CEOs have dialed back their ambitious hiring plans. Over the next 6 months only 40% are planning to increase employment, down from the 77% that planned to this time last year.
