Survey: CEO pessimism about economy soars after upbeat 2018

Posted on Monday, January 21st, 2019 By Jamey Keaten And Ivana Bzganovic, Associated Press

DAVOS, Switzerland (AP) — 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 percent feel growth will decline this year, a six-fold increase from a year earlier, when 57 percent 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."

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