The Business Roundtable says that the economic outlook from CEOs is at its highest level in six years. Yet, the CEOs still aren’t ready to engage in large scale hiring to fill all the job openings they complain about. But it does look like they’re ready to increase capital spending.
Despite anticipating tax cuts, the Business Roundtable’s employment gauge retreated a bit from the four-year highs hit during the summer. The percentage of CEOs who plan to cut jobs ticked up to 18%.
None of that is to say that business leaders sound bummed about Washington or the economy. On the contrary, more CEOs are also planning to step up capital spending on things like new equipment and factories. That’s a good sign because business spending has been a missing link during the recovery from the Great Recession.