The nation’s CEOs said they were less confident about the future economic outlook, reflecting uncertainties surrounding trade policy and overall global growth, according to the latest Business Roundtable CEO Economic Outlook Index released this week. The index—a composite measure of CEO projections for sales, capital spending and hiring over the next six months—was down 5.7 points in the second quarter, falling to 89.5 but remaining above the historical average of 82.6.
All three components of the index decreased, though plans for hiring and capital spending remained above historical averages. Sixty-five percent said they expect their sales to increase in the next six months, down from 73% in the previous quarter. Forty-one percent said they expected staffing to increase. Overall, CEOs projected 2.6% growth for the year.
“It is crucial for Congress and the administration to work together to enact policies that will encourage inclusive growth, innovation and opportunity in the United States,” said JPMorgan Chase Chairman and CEO Jamie Dimon, who is also chairman of the Business Roundtable. “That includes investing in infrastructure and workforce training, reforming our immigration system and expanding free and fair trade.”