Jamie Dimon, chief govt officer of JPMorgan Chase & CoEric Piermont | AFP | Getty PicturesThe chief executives of the nation's largest firms do
Jamie Dimon, chief govt officer of JPMorgan Chase & Co
Eric Piermont | AFP | Getty Pictures
The chief executives of the nation’s largest firms downgraded their outlook for the U.S. economic system for a seventh straight quarter as angst over commerce relations continued to plague C-suites throughout the nation within the final months of 2019.
The Enterprise Roundtable’s index of the CEOs’ outlook fell 2.5 factors to 76.7 within the fourth quarter, which stays beneath the historic common and signifies moderation within the tempo of financial development within the subsequent six months.
The group additionally stated in its first forecast for 2020 that members see simply 2.1% development subsequent yr, close to the Federal Reserve’s GDP estimate of two%. The economic system is about to develop within the fourth quarter at a 2% annual tempo, in keeping with the Atlanta Fed.
“CEOs are justified of their warning in regards to the state of the U.S. economic system,” Enterprise Roundtable President Joshua Bolten stated in an announcement. “Whereas we’ve achieved a aggressive tax atmosphere, uncertainty surrounding commerce coverage and slowing world development are creating headwinds for enterprise. Lawmakers ought to broaden, not limit, commerce to assist increase U.S. financial potential.”
The affiliation’s indexes for gross sales and capital funding over the following six months additionally held beneath their long-term averages: Gross sales elevated 7 factors to 98.6, whereas funding sank 8.9…