U.S. CEO Sentiment at Three-Year High Is Good Omen for Economy
Business Roundtable Sees Tax Reform as Top Priority
Chief executive officers of some of the largest U.S. companies are becoming even more sanguine about sales and spending, a good omen for the economy after a lackluster first-quarter expansion, according to a quarterly survey from the Business Roundtable released Tuesday.
Prospects for legislation that will reduce taxes and spur growth continue to hearten business leaders, who had boosted their confidence in the economy following President Donald Trump’s November election victory. While companies see sales gaining and increasingly plan capital investments, a dwindling pool of skilled and experienced labor for hire may be restraining efforts to boost headcounts. The CEOs estimate the economy will grow 2 percent this year, down from 2.2 percent in the previous survey and slightly below the median forecast in a Bloomberg survey.