As many as 27% of CEOs said that they do not expect their businesses to recover to pre-coronavirus levels until after 2021, according to the Business Roundtable’s Economic Outlook released Monday.
The rest of the top CEOs expect to recover to pre-coronavirus levels by the end of 2021.
A composite index measuring plans for spending, hiring, and sales expectations over the next six months also fell to 34.3 in the second quarter from 72.7 in the first three months of the year.
on Business Insider.
Nearly one-third of top CEOs do not expect that business will recover from the shock of the coronavirus pandemic until after 2021, according to a recent report from the Business Roundtable, a trade group whose members include CEOs of Apple, Walmart, GM, and more.
In the group’s second quarter economic outlook released Monday, 27% of CEOs said that they do not expect recovery for their businesses to pre-coronavirus levels until after 2021. The rest of the top CEOs said that they expect to recover by the end of 2021.
“Our battle against COVID-19 is far from over, and our top priority remains the health and safety of our employees, customers and communities we serve,” Doug McMillon, chairman and CEO of Walmart and chairman of Business Roundtable, said in a statement.
The survey, which was conducted between June 1 and 22, underscores the uncertainty that businesses face as the US economy reopens from coronavirus lockdowns while grappling with climbing case numbers. While many states have continued to go forward with reopening efforts, some such as Florida and Texas have rolled back their plans following spikes in COVID-19 cases.
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Source:: Business Insider