A survey of CEOs found that executives of major firms are now expecting a recession in the near future, according to the Conference Board measure of CEO sentiment released Wednesday.
About 57 percent of respondents expect inflation to come down “over the next few years,” while noting that the economy will suffer a “mild recession” that will last a “very short” period of time due to rising interest rates.
However, the results showed that executives are taking a more pessimistic approach, with the “Measure of CEO Confidence” dropping from 57 percent in the first quarter to 42 percent in the second quarter of 2022.
“CEO confidence weakened further in the second quarter, as executives contended with rising prices and supply chain challenges, which the war in Ukraine and renewed COVID restrictions in China exacerbated,” Dana Peterson, Chief Economist of The Conference Board, said a news release, referring to rampant, harsh lockdowns that have been carried out by the Chinese Communist Party in recent weeks….