“Fully 87% of our CEOs anticipate higher sales,” said Ivan G. Seidenberg, Chairman of Business Roundtable and Chairman and CEO of Verizon Communications. “As a result, more than half of our CEOs plan to increase both capital spending and U.S. hiring. This continues a positive trend for our companies’ activity heading into the second half of 2011.”
A similar poll of medium and small companies would probably show radically different results. Their access to capital is limited which makes their opportunities to expand constrained.
The Business Roundtable CEOs do have a gloomy assessment of GDP which makes it a wonder they plan to spend more money.
In terms of the overall U.S. economy, member CEOs estimate real GDP will grow by 2.8 percent in 2011, a slight decrease from the 2.9 percent projected in the first quarter of 2011.
“Business Roundtable (BRT) is an association of chief executive officers of leading U.S. companies with nearly $6 trillion in annual revenues and more than 13 million employees.”
Douglas A. McIntyre
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