ONE IN FOUR U.S. CEOs SEES FULL RECOVERY DELAYED UNTIL 2022

Confidence among U.S. chief executives plummeted to the lowest level since the financial crisis and more than a quarter don’t see conditions at their companies recovering until after 2021 as the coronavirus reverberates through the economy. The Business Roundtable’s second-quarter economic outlook index, which measures hiring and capital spending plans as well as sales expectations, slumped by 38.4 points to 34.3 from the previous quarter, the Washington-based lobbying group said Monday. Readings below 50 are consistent with a recession, which the National Bureau of Economic Research said the economy entered in February. Some 27 per cent see business conditions fully recovering at their firms after next year, underscoring the toll of the pandemic and state lockdowns that have started to lift.