America's top chief executives are very optimistic President-elect Donald Trump will help create an era of low taxes and fewer regulations.
The Business Roundtable (BRT), a nonprofit lobbyist association based in Washington, D.C., released its fourth-quarter 2024 CEO Economic Outlook Survey, a composite index of CEO plans for spending, employment, and expectations for sales over the next six months.
The overall index rose 12 points from last quarter to 91, the highest level in more than two years and well above its historic average of 83. The increase is the result of CEOs reporting higher numbers across all three subindices (e.g., hiring, capital investment, sales).
CEOs projected 2.6% U.S. GDP growth for 2025.
"As we head into the new year, the Survey results reflect CEOs' optimism about the U.S. economy in the coming months," BRT Chair and Cisco CEO Chuck Robbins said.
"With Washington poised to consider measures that can protect and strengthen tax reform, enable a sensible regulatory environment, and drive investment and job creation, business leaders are energized by the opportunity to engage the incoming Administration and Congress on policies that can further fuel our economy."
CEOs expressed optimism despite mainstream economists warning the economy will take a hit from some of Trump's proposals, Axios reported.
In citing that BRT's index "is well above its long-run average for the first time in nine quarters," CEO Joshua Bolten said his organization will be working "with policymakers to support pro-growth provisions of the Tax Cuts and Jobs Act; scale back burdensome regulations; and expand high-standard trade agreements, while avoiding overly-broad tariffs that could stoke inflation and raise costs for American businesses and consumers."
"Business Roundtable's top priority is maintaining and strengthening the competitiveness of the American economy," Bolten added.
A smaller share of executives plan to lay off workers in the months ahead, while roughly 38% plan to increase their workforce — up 4 points from last quarter, the index showed.
Also, 42% of CEOs said they plan to increase capital spending. That's up from 35% from the third quarter.
A share of 79% of CEOs expect higher sales in the next six months, up from 71% who expected the same last quarter.
Charlie McCarthy ✉
Charlie McCarthy, a writer/editor at Newsmax, has nearly 40 years of experience covering news, sports, and politics.
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