A survey released Monday shows that most of America’s top executives hope that the US economy will enter a recession in the near future.
Of the more than 300 CEOs voted in April, 62% said they predicted a recession and other economic downturns over the next six months, according to the CEO, the industry group that conducts the survey. That’s up from 48%, which said the same thing in March.
Chief executive data highlights growing concerns among businesses America about the future of the US economy. Fear of the upcoming recession has reached a boiling point as President Donald Trump’s repeated tariff policies intensified volatility in financial markets and sparked panic among some consumers.
In fact, about three-quarters of CEOs surveyed said tariffs would damage their business in 2025. About two-thirds say they don’t support Trump’s proposed taxation.
The monthly survey, which has been running since 2002, includes some data points that draw pictures of how America’s most important business leaders view the economy.
The CEO’s current views on business terms fell 9% in April and continued to decline after a plunge by 20% the previous month. This scale is at its lowest level since the early months of the 2020 pandemic.
Forecasting business conditions for the year, the CEO retained his views from March. Still, these measurements were the lowest since late 2012, taking around 29% from the end of 2024.
The survey found that more than four of the five chief executive projects have skyrocketed this year. This is not surprising given the ongoing negotiations regarding import taxes between the White House and the foreign countries. Approximately half expects the cost growth rate to be in double digits.
In this trend, only 37% said they believe their company’s profits would increase. This is a sharp drop from 76% who answered this in January.
Certainly, the Chief Executive dataset contained some bright spots. A slight over half of respondents predicted improvements in business conditions over the next year, up from the 39% stake seen a month ago.
Many CEOs may also be receiving tariff relief. Trump announced late Friday that smartphones and PCs will be exempt from duties, but Commerce Secretary Howard Lutnick said on Sunday that these exemptions were temporary.
Chief executive data comes as US business leaders begin to flash warning signs about the country’s economic future.
JPMorgan Chase CEO Jamie Dimon said Friday that he expects revenue estimates for S&P 500 companies will fall due to uncertainty over Trump’s taxation. Also on Friday, BlackRock CEO Larry Fink warned that the US economy could be weakened to a point of growth that would already be negative.
“If not now, I think we’re very close,” Fink said on CNBC’s “Squad Work on the Street.”