The latest Fortune 500 CEO Poll jibes with our analysis of present conditions. I.e., looks (at this juncture) like there's room for the expansion to run.
Here are the highlights from this morning's Fortune CEO Daily Report:
Our Fortune 500 CEO poll is out this morning, and it shows big company CEOs are notably optimistic about the economy. Some highlights:
— Roughly half—48%—think the economy will be better in the next 12 months than it has been in the last 12.
— Nearly two-thirds—63%—don’t think we will face a recession in the next two years.
— 82% expect to hire more employees over the next two years.
— Roughly half—49%—think President Trump’s policies have been “better than they expected” for their companies; only 18% think they have been “worse than expected.”
— 77% expect the new tax law to reduce their tax liability this year. And what will they use that money for? Increased dividends and share buybacks (50%), reinvestment in the company (43%), additional hiring (32%), additional R&D (32%), and additional wages and employee benefits (29%).I must add something Fortune didn't feature in the highlights: When asked what the biggest risk to their businesses over the next year would be, the top response was "a trade war with China."