SAP Co-CEO: It’s Half-Time for US Economy

Bill McDermott, co-CEO of SAP, said that economic prospects, at least in the U.S., had improved.

As an amateur basketball coach, McDermott used a sporting analogy to explain how he viewed the U.S. economy at present.

"I think right now it is around half-time. We are in the locker room and we are saying to ourselves, we are really coming back, we are much better off than we were in the first quarter, and now we are ready to go into the second half with a good plan," McDermott told CNBC on Tuesday.

He added that companies should remain customer-focused, prioritize growth, and adopt new technologies to remain in touch with consumers.

"If we do that, and if we give it everything we have got, we are going to be just fine. Twenty years from now, people will look back at this as the greatest moment in the history of mankind, in terms of business opportunity. When you look at everything in milliseconds in real-time, it does not always come across that way," he said.

(View More From McDermott: We're in an Innovation-Driven Economy)

—By CNBC's Katy Barnato


Contact U.S. News


    Get the best of CNBC in your inbox

    › Learn More

Don't Miss

U.S. Video

  • Discussing Netflix's plans for international expansion and growth strategy, with Tony Wible, Janney Capital Markets. Based on their current pace they could get to 52 million subscriptions in 3 years, says Wible.

  • Chris Baggini, Turner Titan Fund senior portfolio manager, discusses demand for Apple's iPhone 6. Baggini says Apple believes the 6 is a different platform that will generate a different size and category.

  • CNBC's Rick Santelli speaks to Daniel Stecich, Athena Advisor Services, about the current economic landscape and reasons why the yield curve is flattening.