Vandegrift is part of the one-third of CEOs who forecast worsening conditions in February, ticking up from 28 percent the month prior. Many of these CEOs otherwise rate current conditions as good (6) or better, yet point to uncertainty in the market, in politics and in consumers as what drives their downgrade of future conditions.
Andrew Wahl, President at IG Partners, Inc. a global M&A advisory firm, says he expects conditions to deteriorate. “This will be my 6th recession since graduate school. The data is similar to the Dot Com bust.”
Still, some 41 percent of CEOs forecast improving conditions—the highest that number has been in a couple of years.
Among those predicting a thaw is Steve Schlesinger, Executive Chairman at Schlesinger Group, a large international data collection and research services company. He expects conditions to improve from 6 to 8 out of 10 a year down the line. “Inflation has peaked, and we should see strength in the 2nd half of 2023.”
Karim Chichakly, Co-President, isee systems, inc., a simulation software company agrees. “While I expect the U.S. and world economy to go a little deeper into a recession, I anticipate a quick recovery.”
