Sign up for our daily briefing
Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.
Stay on top of the latest market trends
Subscribe to Axios Markets for the latest market trends and economic insights. Sign up for free.
Sports news worthy of your time
Binge on the stats and stories that drive the sports world with Axios Sports. Sign up for free.
Tech news worthy of your time
Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.
Get the inside stories
Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Want a daily digest of the top Denver news?
Get a daily digest of the most important stories affecting your hometown with Axios Denver
Want a daily digest of the top Des Moines news?
Get a daily digest of the most important stories affecting your hometown with Axios Des Moines
Want a daily digest of the top Twin Cities news?
Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities
Want a daily digest of the top Tampa Bay news?
Get a daily digest of the most important stories affecting your hometown with Axios Tampa Bay
Want a daily digest of the top Charlotte news?
Get a daily digest of the most important stories affecting your hometown with Axios Charlotte
CEO confidence rebounded above pre-pandemic levels this quarter, according to a survey of 150 chief executives of the largest U.S. companies by lobbying group Business Roundtable.
Why it matters: The index, which is still below the record high seen in the wake of Trump's corporate tax cuts, reflects corporate America's expectations for sales, hiring and spending — which hit rock bottom when the pandemic hit. Now CEOs are feeling even better than before the coronavirus roiled the economy.
Between the lines: A growing share of chief executives say their businesses have already recovered or will recover by the end of the year from the coronavirus slump, though most say their businesses will recover sometime in 2021.
- By the numbers: 26% of CEOs said company conditions are "unchanged, have improved, have already recovered or will recover by end of 2020" — that's up from 24% in the prior quarter and 20% in Q2.
- 41% said business will recover next year — down from the 53% who said as much in Q2.
- 33% say their businesses will recover in 2022 or later — down 3 percentage points from Q2.
Of note: The survey was conducted between Nov. 13 and Dec. 1 — as news about vaccine developments began to trickle out.
Details: All of the index's components — plans for hiring and capital investment, plus sales expectations — rose in Q4.
- CEO hiring plans, however, is the only component that's yet to rebound back above the historical average. (When it rises, that means CEOs plan to increase staff levels.)
Yes, but: “While the economic outlook of Business Roundtable CEOs continues to improve, America’s leading employers remain concerned about the recent rise in coronavirus cases and its impacts on American public health and the pace of economic recovery,” Joshua Bolten, the trade group's CEO, said in a release.
- Bolten — along with Doug McMillon, Walmart's chief executive who chairs the Business Roundtable — renewed calls for Congress to pass another stimulus package.
What to watch: While CEO confidence has fully recovered (and then some), consumer confidence remains far below the levels from earlier this year, according to closely watched surveys by the University of Michigan and the Conference Board.