The chief executives of some the nation’s largest companies expect the ill economic effects of the coronavirus pandemic to extend through 2021, and nearly a third of them say the harm will last even longer.
Business Roundtable surveyed 136 members about their projected sales, capital spending and hiring for the next six months. The CEO Economic Outlook Survey fell to 34.3 in the second quarter, the lowest reading for the composite index since the same three months of 2009, according to a report released Monday. But it’s well above the all-time low of -5.0, set during the first quarter of 2009 at the height of the Great Recession.
The group’s members include the CEOs of Apple, JPMorgan Chase and Chevron, among others. The poll, taken from June 1 to 22, reflected the economic fallout of the novel coronavirus, which ushered the United States into recession as businesses and factories were forced to shut down or curtail operations to stem its spread. More than 47.3 million Americans have filed jobless claims since March.