Some 48.1% now see negative growth by the second quarter of 2020, according to the latest Duke University/CFO Global Business Outlook survey.
""The numbers may fluctuate slightly, but this is the third consecutive quarter that U.S. CFOs have predicted a 2020 recession," John Graham, a finance professor at Duke's Fuqua School of Business and director of the survey, said in a statement. "It's notable this quarter how strongly recession is being predicted in other parts of the world."
The results come as many economists believe U.S. growth is weakening from its strong nearly 3% pace in 2018 and the 3.1% gain reported in the first quarter of 2019. However, the numbers are not consistent with small business sentiment. The National Federal of Independent Business Survey for May rose to 105, just a few points from its record high hit earlier this year.. In Africa, 85% of CEOs see recession coming, while CFOs in Europe , Asia and Latin America see recessions by the second quarter of 2020.Business optimism broadly in the U.S. is lagging along with the economic worries, according to the Duke survey.
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