According to a survey released by the industry organization Chief Executive on Monday, April 14, an increasing number of US executives expect the US economy to fall into a recession in the near future.
Among the more than 300 CEOs surveyed in April, 62% anticipate a recession or other economic downturn in the next six months, up from 48% in the March survey.
(Source: Chief Executive)
About three-quarters of the surveyed CEOs said tariffs will harm their businesses in 2025, while approximately two-thirds stated they do not support the taxes proposed by Trump.
These data underscore the growing concerns within the US business community about the future of the US economy, as President Donald Trump's intermittent tariff policies have exacerbated financial market volatility and triggered panic among some consumers.
CEOs Are Anxious About the Economy
The monthly survey also included several other data points, such as executives' views on current business conditions and their outlook for business conditions a year from now.
According to an index measuring CEOs' views on current business conditions, the index continued to decline by 9% in April after plummeting 20% in March, reaching its lowest level since the initial months of the COVID-19 pandemic in 2020.
When predicting business conditions a year from now, CEOs' views remained largely unchanged from March. Nevertheless, these figures are the lowest since the end of 2012, down by approximately 29% compared to the end of 2024.
The survey also found that over 80% of CEOs expect their companies' costs to surge this year as the US government negotiates import taxes with other countries, with about half anticipating double-digit percentage increases in their expenditures.
In this context, only 37% of respondents expressed confidence that their companies' profits would increase, a significant drop from 76% in January.
As the above survey data were released, US business leaders have begun to issue warning signals about the future of the US economy.
JPMorgan Chase CEO Jamie Dimon stated last week that he expects earnings expectations for S&P 500 companies to decline due to the uncertainty surrounding Trump's taxes. On the same day, BlackRock CEO Larry Fink warned that the US economy may have weakened to the point of negative growth.