CEOs See Rise in Capital Spending
U.S. chief executives were more optimistic about the economy in the first three months of this year than they were at the end of 2012 and expect to increase capital spending over the next six months, according to the Business Roundtable’s CEO Economic Outlook.
The survey was taken just before across-the-board spending cuts known as the sequester kicked in this month, therefore muted optimism largely reflects the drag on the economy from federal budget reductions, noted Boeing chief executive Jim McNerney, chairman of the Business Roundtable.
“Lurching from one crisis to another in D.C. puts a damper on long-term investment,” he said. If lawmakers could provide a clear path on debt reduction, tax reform and regulation, the economy would be growing at a much stronger pace – more in line with previous recoveries,” McNerney said.
To read more about the Business Roundtable’s outlook click here.