Survey: CEO pessimism about economy soars after upbeat 2018

DAVOS, Switzerland – A survey of hundreds of corporate chieftains worldwide shows “a record jump in pessimism” about the world economy, with sentiment doused by trade spats, a global downturn and fading benefits from U.S. President Donald Trump’s tax cuts.

Consulting firm PwC says its annual survey of CEOs found 30 per cent feel growth will decline this year, a six-fold increase from a year earlier, when 57 per cent were optimistic.

The survey, released Monday on the eve of the World Economic Forum, tallies responses from over 1,300 CEOs and is billed as a good predictor of economic results.

In an interview, PwC Chairman Bob Moritz said: “There’s a not-surprising increase in the amount of pessimism from the CEOs and the global economy as they look at the next 12 months.”