Outlook 2023: CEOs Are Cautious
It appears that America’s corporate leaders are preparing for the worst while hoping for the best.
Almost half of S&P 500 CEOs in second-quarter conference calls pointed to “recession” as a potential headwind in 2023. In response, some companies have chosen to trim headcount while others are managing budgets and looking for operational efficiencies.
Across the board, however, the focus on a potential recession is taking a toll on CEO confidence. The Conference Board’s Measure of CEO confidence is at its lowest since 2008.
Remember, it’s healthy for companies to prepare for a challenging economic climate, and CEO confidence may grow once we see more green shoots in the economy.
After all, by this time next year, the buzzword of the quarter could be something else entirely, like “recovery,” “rebound,” or “growth.” That type of language can only help boost confidence.
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Dr. Jason Van Duyn
AQuest Wealth Strategies
Dr. Jason Van Duyn CFP®, ChFC, CLU, MBA is a Registered Representative with and Securities and Advisory Services offered through LPL Financial, a Registered Investment Advisor. Member FINRA & SIPC. The LPL Financial registered representative associated with this site may only discuss and/or transact securities business with residents of the following states: IN, IL, TX, MI, NC, AZ, VA, FL, OH and CO.