CEOs now see gloomy third quarter, drop growth expectations
Citing uncertainty over the impending “fiscal cliff” and lower demand overseas, an association of CEOs from top companies on Wednesday dropped its growth expectations for the third quarter to the lowest level since the middle of the Great Recession.
The Business Roundtable lowered projections for sales, capital spending and hiring in its latest CEO Economic Outlook Survey to the lowest level since 2009.
The fiscal cliff — an end-of-the-year deadline for a long-term budget deal between Republican and Democratic lawmakers — has businesses putting off hiring and spending decisions, because they don’t know what to expect in the coming months and years, said Jim McNerney, the CEO of Boeing who also heads the Business Roundtable.
“This complete Mexican standoff that we have now is not getting us anywhere,” he told reporters
Read more: CEOs now see gloomy third quarter, drop growth expectations – Washington Times https://www.washingtontimes.com/news/2012/sep/26/ceos-now-see-gloomy-third-quarter-drop-growth-expe/#ixzz27c51MnVP
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