{"id":1509230,"date":"2022-06-09T10:51:53","date_gmt":"2022-06-09T14:51:53","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1509230"},"modified":"2022-06-09T11:32:42","modified_gmt":"2022-06-09T15:32:42","slug":"every-single-business-leader-surveyed-in-new-poll-thinks-a-recession-is-coming","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/every-single-business-leader-surveyed-in-new-poll-thinks-a-recession-is-coming\/","title":{"rendered":"Every Single Business Leader Surveyed In New Poll Thinks A Recession Is Coming\u00a0"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">26<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fevery-single-business-leader-surveyed-in-new-poll-thinks-a-recession-is-coming%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1509230&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>American <a href=\"https:\/\/www.dailywire.com\/topic\/economy\">executives<\/a> overwhelmingly believe that a <a href=\"https:\/\/www.dailywire.com\/topic\/recession\">recession<\/a> will strike in early 2023, <a href=\"https:\/\/www.cnbc.com\/2022\/06\/09\/recession-will-hit-in-first-half-2023-the-dow-is-headed-lower-cfos.html\">according<\/a> to a new CNBC survey of chief financial officers released Thursday.<\/p>\n<p>The United States economy <a href=\"https:\/\/www.bea.gov\/sites\/default\/files\/2022-05\/gdp1q22_2nd.pdf\">shrank<\/a> at a 1.5% annualized rate in the first quarter of 2022, with two consecutive quarters of negative growth constituting recession territory. According to CNBC\u2019s most recent CFO Council Survey, executives are generally pessimistic about economic futures.<\/p>\n<p>Most respondents \u2014 77% \u2014 believe a recession will occur in the first half of 2023. \u201cNo CFO forecast a recession any later than the second half of next year, and no CFO thinks the economy will avoid a recession,\u201d CNBC said of the 22 survey respondents.<\/p>\n<p>More than 40% of CFOs believe inflation \u2014 which is currently <a href=\"https:\/\/www.politico.com\/news\/2022\/05\/11\/inflation-april-price-increase-peak-00031696#:~:text=Inflation%20slowed%20in%20April%20after,the%20Labor%20Department%20said%20Wednesday.\">near<\/a> four-decade highs of 8.3% \u2014 is the main external risk factor for their business. Meanwhile, 23% point to Federal Reserve policy, and 14% point to the war in Ukraine.<\/p>\n<p>The Fed <a href=\"https:\/\/www.dailywire.com\/news\/the-fed-jacks-key-rate-up-half-point-as-inflation-surges\">hiked rates<\/a> by 0.5% last month \u2014 the largest rate increase since May 2000 \u2014 in an attempt to curb rising price levels. The move followed a 0.25% rate hike from near-zero levels three months ago. As employment numbers remain robust, the central bank likely interprets a strong labor market as a sign that officials should forge ahead with their plan to raise rates throughout the year.<\/p>\n<p>In terms of stock market futures, 77% of CFOs predict that the Dow Jones Industrial Average will plummet to 30,000 \u2014 a more than 9% drop from its current level \u2014 before reaching a new high. Nevertheless, 55% of respondents said that \u201cenergy will show the most growth among all sectors of the economy over the next six months,\u201d according to CNBC.<\/p>\n<p>Indeed, the Nasdaq \u2014 a technology-heavy stock index \u2014 has endured losses for most of the year, at one point <a href=\"https:\/\/www.dailywire.com\/news\/tech-stocks-see-worst-losing-streak-since-dot-com-bubble\">enduring<\/a> its worst selloff since the dot-com bubble in 2001. Silicon Valley behemoths such as Microsoft and Tesla are <a href=\"https:\/\/www.dailywire.com\/news\/recession-fears-lead-big-tech-companies-to-pause-hiring-cut-jobs\">pausing<\/a> new hires or weighing plans to dismiss portions of their staff. The CFOs polled by CNBC, however, broadly intend to increase rather than decrease headcount \u2014 a 54% to 18% margin.<\/p>\n<p>The generally ominous outlook from American financial executives comes as multiple high-profile business leaders also warn of a looming economic downturn.<\/p>\n<p>\u201cYou know, I said there\u2019s storm clouds but I\u2019m going to change it\u2026 it\u2019s a hurricane,\u201d JPMorgan Chase CEO Jamie Dimon <a href=\"https:\/\/www.dailywire.com\/news\/top-banker-brace-yourself-for-looming-economic-hurricane\">said<\/a> last week, adding that no one knows if the hurricane is \u201ca minor one or Superstorm Sandy.\u201d Exhorting other financial conference attendees to \u201cbrace yourself,\u201d he remarked that his investment bank is \u201cgoing to be very conservative with our balance sheet.\u201d<\/p>\n<p>Likewise, Tesla CEO Elon Musk <a href=\"https:\/\/www.dailywire.com\/news\/elon-musk-has-a-super-bad-feeling-about-the-economy-wants-a-massive-layoff-at-tesla\">told<\/a> executives in an email that he has a \u201csuper bad feeling\u201d about the economy. President Joe Biden <a href=\"https:\/\/www.dailywire.com\/news\/biden-responds-to-musks-super-bad-forecast-for-u-s-economy-lots-of-luck-on-his-trip-to-the-moon\">responded<\/a> to the top entrepreneur\u2019s sentiment by pointing to job growth at unionized American automakers and jabbed at Musk, \u201clots of luck on his trip to the Moon.\u201d<\/p>\n<p>Growth prospects worldwide are also expected to be lackluster. Earlier this week, the World Bank <a href=\"https:\/\/www.dailywire.com\/news\/sharpest-slowdown-in-80-years-world-bank-releases-ominous-news-about-recession-risk\">cut<\/a> its global growth forecasts for 2022 and warned of the \u201csharpest slowdown in 80 years.\u201d In January, the international financial institution forecasted 4.1% economic growth for this year \u2014 yet in light of elevated inflation, lockdowns in China, the Russian invasion of Ukraine, and other phenomena, the <a href=\"https:\/\/www.worldbank.org\/en\/news\/press-release\/2022\/06\/07\/stagflation-risk-rises-amid-sharp-slowdown-in-growth-energy-markets\">forecast<\/a> was revised to 2.9%.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>American executives overwhelmingly believe that a recession will strike in early 2023, according to a new CNBC survey of chief financial officers released Thursday. The United States economy shrank at a 1.5% annualized rate in the first quarter of 2022, with two consecutive quarters of negative growth constituting recession territory. According to CNBC\u2019s most recent &#8230;<\/p>\n","protected":false},"author":99,"featured_media":1481899,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1509230","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1509230","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/99"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1509230"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1509230\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1481899"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1509230"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1509230"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1509230"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}