Signs of life in the economy and an increase of business activity has led to an increase in confidence of small and midsize business CEOs. The Vistage CEO Confidence Index rebounded to 82.8 Q3 2020; while not at peak recovery, this is just 2.6% below Q3 2019.
While all factors that comprise the Index improved from last quarter, the biggest driver of the rebound is decreasing pessimism about the future U.S. economy. September’s survey found that 83% of CEOs expect the economy to worsen in the year ahead, a 10-point improvement from 93% last quarter.
The other factors that contributed to the rebound from last quarter include:
- 32.5% improvements in revenue expectations
- 29.2% improvement in profitability expectations
- 28.3% increase in investment plans, largely driven by a significant decline in contraction
- 25.4% improvement in workforce plans
- 10.1% improvement in expectations for the U.S. economy
To Learn More, Click On These Downloads:
- Q3 2020 CEO Confidence Index report
- Q3 2020 CEO Confidence Index flash report
- Q3 2020 CEO Confidence Index infographic