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CEOs trim estimates for GDP growth: Survey

CEOs have slightly lower expectations for U.S. gross domestic product growth than they did last quarter, according to a new survey.

The Business Roundtable survey showed chief executives forecast GDP growth of 2.3 percent in 2014, down from last quarter's estimate of 2.4 percent for the year.


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"CEO expectations for both investment and growth remain well below the potential of the U.S. economy and below what we should be experiencing at this stage of a recovery," said Randall Stephenson, Business Roundtable's chairman and AT&T's chairman and CEO.

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But in a positive sign, the survey's composite index of CEO outlook for the economy rose during the quarter. The index, which measures expectations for sales, capital spending and employment over the next six months, now stands at 95.4—up from the first quarter's 92.1 and the average level of 80.1.

While the expectations for capital expenditures fell, the outlook for sales and hiring rose moderately.

About 43 percent of chiefs plan to add employees in the U.S. while roughly seven out of 10 forecast sales would rise over the next six months.

The survey consisted of responses from 131 CEOs.

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CNBC's Katie Little

Contact Economy

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