Top CEOs Optimistic About Economic Outlook

New York, NY, December 17, 2024-"CEOs of the world’s biggest companies are more optimistic about the economy than they have been in years,” reports the Wall Street Journal.

“The enthusiasm is being driven in part by the prospect of President-elect Donald Trump’s return to the White House, with many chief executives expecting their businesses to benefit from lower corporate taxes and less regulation, according to a new survey.

“Outcomes of other elections around the world are also fueling expectations for improvements in the global economy and political stability. Executives are predicting a pickup in deal activity and easier access to capital in the coming months as well.

“Overall, 77% of chief executives said they expect the global economy will improve in the first half of next year, according to the survey of more than 300 public-company CEOs by advisory firm Teneo. That’s compared with 45% who made a similar forecast last year.

“Teneo CEO Paul Keary said Trump’s win boosted optimism among executives in both the U.S. and overseas. 

“The shift toward a glass-half-full outlook was sharpest among CEOs of the biggest companies, or those with more than $10 billion in annual revenue. A little more than 50% of that group expect the economy to improve in the next six months, up from 16% in 2023 and 6% in 2022. 

“High-profile executives have been working to build relationships with Trump since his election. Meta CEO Mark Zuckerberg, Amazon.com founder Jeff Bezos and OpenAI CEO Sam Altman have each made $1 million donations to Trump’s inaugural fund.

“Some executives have bristled at Trump’s tariff threats, including a 25% levy on imports from Canada and Mexico, and scrambled to convince him to change his stance. The worries are concentrated among heads of larger companies, according to the survey: 13% of those CEOs thought tariffs would have a positive effect on their businesses, compared with 80% of CEOs of the smaller companies surveyed.”