Study: CEOs Don't Plan to Hire or Spend
Economic optimism is in short supply, if you ask corporate CEOs. In fact, they're done spending for the rest of the year--and that doesn't bode well for smaller businesses.
Fewers CEOs plan to spend or hire in the next six months, according to a survey released Wednesday from the Business Roundtable, an association of 150 CEOs who run large-scale companies. Only 43% of Roundtable chief execs (down from 47%) plan to invest in large goods, such as machinery and computers, before the end of the year. And just 36% plan to add headcount (down from 42% six months ago).
The slowdown in spending could have repercussions for business owners. Business Roundtable says that its members generate an estimated $420 billion in sales for small- and medium-sized companies, according to its website.