Washington – Results of Business Roundtable’s (BRT) fourth quarter 2013 CEO Economic Outlook Survey show a modest uptick in CEO expectations for the economy over the next six months, with expectations for sales, capital expenditures and hiring increasing from the third quarter of 2013. The Business Roundtable CEO Economic Outlook Index increased to 84.5 from 79.1 in the previous quarter, and expectations for 2014 GDP growth remained in line with the previous two quarters at 2.2 percent.
“CEO expectations for economic expansion in the next six months increased slightly from last quarter, with expectations for sales, capital investment and hiring all tracking somewhat higher,” said Jim McNerney, Chairman of Business Roundtable, and Chairman, President and CEO of The Boeing Company. “In aggregate, our expectations are consistent with an economy that will continue along the path of steady, modest recovery into the first half of 2014. These soundings are also consistent with an overall economy that, despite progress, is not yet performing at its full potential.”
In a question posed annually in the fourth quarter, 39 percent of CEOs reported that regulatory costs were the top cost pressure facing their business over the next six months, followed by labor and health care costs. Regulatory costs were also the CEOs’ top concern in the fourth quarter of 2012.
The survey’s key findings from this quarter and the third quarter of 2013 include: