Corporate executives are scaling back plans for sales, capital spending and job creation this quarter, according to a the Business Roundtable (BRT) survey Tuesday, consistent with other indicators that have tempered growth expectations.
The group's Economic Outlook Index—a snapshot of CEO expectations for the next six months of sales, capital spending and employment—fell to 86.4 from 95.4 in the second quarter of 2014, the association of top corporate CEOs said. The long-term average of the index is 80.2.
The majority of the BRT's members see plans for capital investment, hiring and revenues falling from the second quarter, with job plans declining the most. The 135 members who responded to the BRT's survey expect 2014 gross domestic product of 2.4 percent, barely above last quarter's 2.3 percent showing.