Survey: Top CEOs report weaker economic outlook for 1Q
WASHINGTON (AP) — Top U.S. CEOs are reporting that their economic outlook weakened in the first three months of the year although it remains above its historical average.
The Business Roundtable, a lobbying organization of major companies’ chief executives, also said Wednesday its first-quarter survey of CEOs showed strong support for Congress to create a new national law governing consumer data privacy.
The group’s economic outlook index for the January-March quarter fell to 95.2, down from 104.4 in the fourth quarter of 2018. The lower reading, however, far exceeded the index’s historical average of 82.4 for the ninth straight quarter.
The new survey showed that companies’ plans for capital investment fell 6.9 percentage points since the fourth quarter, while sales expectations dropped 9.6 percentage points.