86% Of Global CEOs Expect A Recession Next Year

In a KPMG survey released on October 4th, 86% of global CEOs predicted a recession for the following year. This is an increase from 9% earlier this year. 15% of respondents said they were most concerned about pandemic fatigue, and there has been a 40-year high in global inflation.

Fears that monetary tightening may cause the economy to enter a recession have been raised by the Federal Reserve and other central banks’ steady increases in interest rates. According to reports, a poll of 1,325 CEOs was performed between July 12 and August 24. All of the respondents had yearly firm revenues of at least $500 million.

The new poll found that 73 percent of CEOs believed a recession will disrupt anticipated growth. About three-quarters — 76 percent — said they have already taken precautionary steps ahead of a recession, and 71 percent predicted it will impact company earnings by up to 10 percent.

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