WORLD / AMERICAS
Most CEOs see their firms recovering by end 2021: survey
Published: Mar 11, 2021 05:43 PM
US chief executives are more optimistic about rising sales and overwhelmingly expect a recovery from the COVID-19 downturn by the end of 2021, according to a survey released on Wednesday.

The Business Roundtable reported jumps in expectations for the next six months in all three categories: expected sales, capital spending and hiring.

A view of the newly reopened AMC Empire 25 opposite a Regal cinema which remains closed in Times Square on March 05, 2021 in New York City. Photo: VCG

A view of the newly reopened AMC Empire 25 opposite a Regal cinema which remains closed in Times Square on March 5,  in New York City, the US. Photo: VCG

And 72 percent of CEOs said conditions have already recovered or will have recovered by the end of 2021. That is an increase from 67 percent in the prior quarter.

The survey is the latest to point to broadening optimism about the economic recovery, and comes as the House of Representatives is set to approve a $1.9 trillion fiscal spending package and send the measure to President Joe Biden for final signature.

"These survey results suggest that the economy is recovering, which is encouraging news, as there are many American workers, families and communities who are still hurting," said Walmart Chief Executive Doug McMillon, who is chairman of the organization.

For the US to fully recover, "it's important that as many people as possible get vaccinated when eligible and continue safety practices," he added.

Biden's spending bill includes up to $1,400 stimulus checks to most Americans, extensions to unemployment aid and a child tax credit for low-income households, among other provisions. 

Republicans in Congress have uniformly opposed the bill.
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