More than 60% of CEOs expect a recession in the next 6 months, survey says

A rising majority of America’s prime executives now expects the U.S. economic system to enter a recession within the close to future, in keeping with a survey launched Monday.

Of the greater than 300 CEOs polled in April, 62% stated they forecasted a recession or different financial downturn within the subsequent six months, in keeping with Chief Govt, an trade group that runs the survey. That is up from 48% who stated the identical in March.

Chief Govt’s information underscores the rising concern inside company America round the way forward for the U.S. economic system. Fears a few forthcoming recession hit a boiling level within the final two weeks, as President Donald Trump’s on-again-off-again tariff coverage ratcheted up volatility in monetary markets and stirred panic amongst some shoppers.

Certainly, round three-fourths of CEOs surveyed stated tariffs would harm their companies in 2025. About two-thirds stated they didn’t assist Trump’s proposed levies, lots of that are at present on pause.

The month-to-month survey, which has run since 2002, consists of a number of information factors that paint a regarding image of how America’s foremost enterprise leaders view the economic system.

An index of CEOs’ views on present enterprise circumstances tumbled 9% in April, persevering with its decline after plunging 20% within the prior month. The measure now sits at its lowest stage because the early months of the pandemic in 2020.

When forecasting enterprise circumstances a yr out, CEOs held their view regular from March. Nonetheless, these readings have been the bottom since late 2012 and have tanked round 29% from the tip of 2024.

The survey discovered that greater than 4 out of 5 chief executives challenge prices spiking this yr, which is not any shock given the continuing negotiations over import taxes between the White Home and overseas nations. Round half forecast their proportion will increase in bills to be within the double digits.

On this vein, simply 37% stated they imagine their corporations’ income will enhance. That is a steep drop from the 76% who gave this response in January.

To make sure, Chief Govt’s information set included a couple of vivid spots. Barely over half of respondents stated they foresee enterprise circumstances bettering over the subsequent yr, a rise from the 39% share seen a month earlier.

Many CEO could also be getting some tariff reduction as effectively. Trump late Friday introduced that smartphones and PCs could be exempt from duties, although Commerce Secretary Howard Lutnick stated Sunday that these exemptions could be momentary.

Chief Govt’s information comes as U.S. enterprise leaders have began flashing warning indicators on the nation’s financial future.

JPMorgan Chase CEO Jamie Dimon stated Friday that he expects earnings estimates for S&P 500 corporations to fall as a result of uncertainty round Trump’s levies. Additionally on Friday, BlackRock CEO Larry Fink warned that the U.S. economic system could have already weakened to the purpose of progress coming in destructive.

“I feel we’re very shut, if not in, a recession now,” Fink stated on CNBC’s “Squawk on the Avenue.”