2023 economic outlook: Prepare for landing
2023-01-13 17:11:32
Nearly two-thirds of small and mid-sized U.S. businesses expect the country's economy to fall into recession, according to a new JPMorgan study, which pointed to rising operating costs as the country's biggest business after months of the Federal Reserve's ongoing battle with high inflation, issue concerned.
According to the 2023 annual outlook survey of business leaders released by JP Morgan Chase, 65% of medium-sized enterprises and 61% of small enterprises in the United States expect a recession in 2023, and the leaders of most small enterprises said that they expect the rising trend of business operating costs and prices will continue in the future.
More than 90% of medium-sized business leaders said that their companies are facing challenges brought about by high inflation, and 45% of small businesses listed rising costs and prices as their top concern, an increase of 20% from last year.
The data suggest that small businesses are more optimistic about the outlook for the U.S. and global economies than mid-sized businesses. Among midsize business leaders, optimism about the global economy plummeted to 8 percent from 34 percent a year ago, while optimism about the U.S. economy fell to 22 percent from 50 percent.
On the other hand, among small business leaders, 49 percent are optimistic about the direction of the U.S. economy and 45 percent are optimistic about the direction of the global economy.
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According to the 2023 annual outlook survey of business leaders released by JP Morgan Chase, 65% of medium-sized enterprises and 61% of small enterprises in the United States expect a recession in 2023, and the leaders of most small enterprises said that they expect the rising trend of business operating costs and prices will continue in the future.
More than 90% of medium-sized business leaders said that their companies are facing challenges brought about by high inflation, and 45% of small businesses listed rising costs and prices as their top concern, an increase of 20% from last year.
The data suggest that small businesses are more optimistic about the outlook for the U.S. and global economies than mid-sized businesses. Among midsize business leaders, optimism about the global economy plummeted to 8 percent from 34 percent a year ago, while optimism about the U.S. economy fell to 22 percent from 50 percent.
On the other hand, among small business leaders, 49 percent are optimistic about the direction of the U.S. economy and 45 percent are optimistic about the direction of the global economy.
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