Washington – The results of Business Roundtable’s (BRT) first quarter CEO Economic Outlook Survey for 2012 show an upturn in expectations for sales, capital spending and hiring for the next six months.
“The BRT survey results indicate greater overall economic optimism among member CEOs compared to last quarter,” said Jim McNerney, Chairman of Business Roundtable and Chairman, President and CEO of The Boeing Company. “Several factors, among them oil prices, a sluggish European economy, political uncertainty in the United States, and questions about future growth in Asia, remain as potential obstacles to higher rates of economic growth in the United States.”
The survey’s key findings from this quarter and the fourth quarter of 2011 include:
In terms of the overall U.S. economy, Business Roundtable members estimate real GDP will grow by 2.3 percent in 2012, up from last quarter’s estimate of 2.0.
Fourth Quarter 2011 CEO Economic Outlook Survey Index
The Business Roundtable CEO Economic Outlook Survey Index – a composite index of CEO expectations for the next six months of sales, capital spending and employment – increased notably to 96.9 in the first quarter of 2012, from 77.9 in the fourth quarter of 2011.
Business Roundtable’s CEO Economic Outlook Survey, conducted quarterly since the fourth quarter of 2002, provides a forward-looking view of the economy by BRT member CEOs.
The survey was completed between March 1 and March 19 and responses were received from 128 member CEOs.
Momentum for America
Business Roundtable is focusing its efforts on greater job expansion and economic growth – national priorities that are inextricably linked. Informing our plan is our collective business experience as CEOs of America’s leading companies, experience that tells us what it takes to build momentum for the United States in in 2016 and beyond.