clear
Monday May 30th, 2016 9:00AM

US CEOs more optimistic on hiring, sales this year

By The Associated Press
WASHINGTON (AP) -- Optimism among chief executives of large U.S. companies has reached a two-year high, driven by a more positive outlook toward hiring and sales.<br /> <br /> The Business Roundtable said Tuesday that its CEO outlook index rose to 95.4 in the second quarter, up from 92.1 in the first quarter. That is the highest level since the second quarter of 2012.<br /> <br /> The positive sentiment among CEOs of some of the largest U.S. companies could bode well for hiring and growth. The U.S. economy has been adding jobs at a steady pace this year and the unemployment rate has fallen to 6.3 percent, a five-year low.<br /> <br /> The proportion of CEOs expecting to hire in the next six months rose to 43 percent, up from just 37 percent in the first quarter.<br /> <br /> Still, the outlook was not all rosy: the percentage of CEOs planning to invest more in their businesses fell to 44 percent from 48 percent.<br /> <br /> Randall Stephenson, CEO of AT&T and chairman of the Roundtable, blamed the drop on the expiration of several investment tax breaks at the beginning of the year.<br /> <br /> The decline is "troubling because of the high correlation between business investment and economic and job growth," Stephenson said.<br /> <br /> The CEOs also forecast that the economy will grow at just a 2.3 percent pace in 2014. That would be better than last year's 1.9 percent growth, but below many economists' hopes at the beginning of this year that growth would reach 3 percent.<br /> <br /> Growth this year has been dragged down by harsh winter weather, which closed factories and kept consumers away from shopping malls and car dealers in the first quarter. Many analysts expect the economy contracted at a 2 percent annual rate from January through March.<br /> <br /> The International Monetary Fund, a global lending organization, lowered its forecast for U.S. growth this year to just 2 percent, from 2.7 percent, partly because of the weather impact.<br /> <br /> The Federal Reserve is also expected to downgrade its economic projections for this year after a two-day meeting ends Wednesday.<br /> <br /> The CEO survey was conducted between May 14 and June 4, and 131 of the Business Roundtable's 200 member CEOs responded.
© Copyright 2016 AccessWDUN.com
All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
Judge denies motions to move, delay Tsarnaev trial
Lawyers for Boston Marathon bombing suspect Dzhokhar Tsarnaev asked a federal appeals court Wednesday to overturn a judge's decision to not move his upcoming trial out of state.
10:02PM ( 1 year ago )
High court to adopt electronic filing of cases
The Supreme Court is belatedly developing an electronic filing system similar to those used in courts around the country, Chief Justice John Roberts said Wednesday in his annual end-of-year report.
7:57PM ( 1 year ago )
Storm brings snow, cold to West for New Year's
A blustery winter storm dumped snow and ice across the West on Wednesday, making driving treacherous in the mountains from California to the Rockies and forcing residents and party-goers in some usually sun-soaked cities to bundle up for a frosty New Year's.
5:19PM ( 1 year ago )
U.S. News
State DOT awards $48M contract for NE Ga. road project
The state Department of Transportation has awarded a $47.8 million contract for nine miles of work on a northeast Georgia road.
9:37AM ( 1 year ago )
Business News
Grass fire impacts rush hour traffic on 985
Rush hour traffic on I-985 was slowed by a grass fire Wednesay afternoon with one lane closed while firefighters fought the blaze.
10:19PM ( 1 year ago )
Hall County conviction, sentencing to be reviewed by SCOGA
The State Supreme Court has agreed to hear the appeal of a Hall County man when they reconvene in January.
2:37PM ( 1 year ago )
Maysville man dies from Banks County wreck
The Georgia State Patrol reports that alcohol and/or drugs were factors a single-vehicle wreck that claimed the life of a Maysville man in Banks County Tuesday night.
11:07AM ( 1 year ago )
Local/State News
Amid shouts of 'shame,' House GOP defeats gay rights measure
Democrats shouted "shame," but House Republicans switched their votes and defeated a measure to protect gay rights
8:03PM ( 1 week ago )
CDC director Freiden warns GOP Zika bill is inadequate
The head of the Centers for Disease Control and Prevention warned Wednesday that a House GOP measure to combat the Zika virus is inadequate to deal with the swelling threat to public health
7:36PM ( 1 week ago )
Trump unveils list of his top picks for Supreme Court
Donald Trump, the presumptive Republican nominee for president, released Wednesday a list of 11 potential Supreme Court justices he plans to vet to fill the seat of late Justice Antonin Scalia if he's elected to the White House.
3:31PM ( 1 week ago )
1st US penis transplant could bring hope to maimed soldiers
A 64-year-old cancer patient has received the nation's first penis transplant, a groundbreaking operation that may also help U.S. veterans maimed by roadside bombs
8:04PM ( 1 week ago )
States dig in against directive on transgender bathroom use
Politicians in Texas, Arkansas and elsewhere are vowing defiance over the Obama administration's new directive on transgender bathroom use
9:19PM ( 2 weeks ago )