Director Confidence Continues To Improve In May, Despite Recession Fears
May reading of director confidence shows directors’ confidence in business conditions 12 months from now back to pre-bank crisis level, at highest point in more than a year.
May reading of director confidence shows directors’ confidence in business conditions 12 months from now back to pre-bank crisis level, at highest point in more than a year.
April reading of director confidence shows a reversal from March’s sharp SVB-led decline, though directors say they still don’t expect conditions to improve much over the next 12 months.
After significant back-to-back increases in January and February, directors’ outlook for business 12 months out slipped this month amid growing signs of economic headwinds.
Directors reflect on their risk oversight practices, as three-quarters say the SVB board failed in fulfilling its fiduciary duty to protect the company.
Board members agree on one thing and that’s uncertainty. Many say that demand has weakened, while others say their sector remains strong.
Board members predict a short-term recession in 2023 fueled mainly by uncertainty. Most expect recovery by the end of 2023, if not sooner, and look forward to more stability both domestically and globally.
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