{"id":451933,"date":"2026-05-30T00:53:43","date_gmt":"2026-05-30T00:53:43","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/451933\/"},"modified":"2026-05-30T00:53:43","modified_gmt":"2026-05-30T00:53:43","slug":"ceos-are-turning-pessimistic-about-the-economy","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/451933\/","title":{"rendered":"CEOs are turning pessimistic about the economy"},"content":{"rendered":"

The people whose problems include finding a place to park their yacht are starting to sound like everyone else when it comes to the US economy. A survey of CEOs from some of the biggest US companies revealed a decline in confidence<\/a> in the economy\u2014and a dim outlook for the next six months.<\/p>\n

The Conference Board, a nonpartisan think tank, polled 141 chief executives of Fortune 500 companies during Q2 and returned a confidence score of 47, a 12-point drop from Q1. Anything below 50 is considered negative. But that\u2019s not all from the demoralized C-suite:<\/p>\n

Only 8% of CEOs said conditions worsened in Q1, but that share exploded to 47% in Q2.Forty percent expected things to get worse over the next six months, up from 13% in the previous survey.<\/p>\n

Consumers agree. The Conference Board also found that US consumer confidence dropped<\/a> in May, reinforcing a similar report from the University of Michigan last week that showed consumer sentiment at an all-time low<\/a>.<\/p>\n

What\u2019s got everyone anxious?<\/p>\n

Regardless of your tax bracket, you can throw a dart at just about any economic indicator and have it hit something that will make you take a big swig of Pepto-Bismol.<\/p>\n

Gross Domestic Product: The GDP for Q1 was adjusted down<\/a> from 2% to 1.6% yesterday.<\/p>\n

The change was due to \u201cdownward revisions to investment and consumer spending,\u201d according to the Bureau of Economic Analysis.<\/p>\n

Inflation: High gas prices\u2014they affect cars and private planes\u2014have helped drive the 12-month inflation rate<\/a> to a three-year high of 3.8%, per the Commerce Department.<\/p>\n

Fed\u2019s next move: With inflation heating up, new Federal Reserve Chair Kevin Warsh may have a hard time delivering his desired interest rate cut. According to CME FedWatch, there\u2019s now a 37% chance<\/a> of a rate hike in December, as central bankers grow skeptical<\/a> of the idea that AI-fueled growth will cool inflation.\u2014DL<\/p>\n","protected":false},"excerpt":{"rendered":"The people whose problems include finding a place to park their yacht are starting to sound like everyone…\n","protected":false},"author":2,"featured_media":451934,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[138,219,111,139,69],"class_list":["post-451933","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-economy","tag-new-zealand","tag-newzealand","tag-nz"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/451933","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=451933"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/451933\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/451934"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=451933"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=451933"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=451933"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}