Although CEOs for large US companies remain broadly confident on the economy, corporate sentiment took another hit in the third quarter, according to a survey released Monday.
The survey — which measures expectations for sales, capital spending and hiring over the next six months — fell to 109.3 from 111.1 in the second quarter, according to the Business Roundtable, which represents Apple, IBM, General Motors and other US giants.
The data showed a modest increase in expectations for sales over the coming period but declines in the outlook for both hiring and capital spending.
The decline in the overall index follows a drop in the second quarter, which was the first decline during the Donald Trump presidency.
A special question in the new survey found that 63 percent of CEOs said recent tariffs and uncertainty about trade would negatively affect capital investment decisions in the next six months.
Still, all three benchmarks remain high by historic levels.
“Business leaders are showing their confidence in the US economy with strong plans for investment and hiring in the months to come,” said Jamie Dimon, chief executive of JPMorgan Chase and the chairman of the Business Roundtable.
“The uncertainty around our trade policies remains a risk. Now is the time to build on this momentum with trade policies that bolster US competitiveness, encourage business investment and expand opportunities for American workers and families.”
