Business confidence among top US chief executives fell for the sixth quarter in a row, as geopolitical uncertainty, the US-China trade war and slowing global economic growth continued to bite, according to a survey published yesterday.
The Business Roundtable, a group of leading heads from nearly 200 companies, said its economic outlook index fell 10.3 points in the third quarter to 79.2. While that was significantly above the 50-point benchmark that indicates growth, all three components of the index — plans for hiring, plans for capital investment and expectations for sales — fell during the quarter.
Joshua Bolten, roundtable president and CEO, said businesses “have their foot poised above the brake, and they’re tapping the brake periodically”.