“The worst is here. Now it’s the beginning of the end for Covid,” says Andrew Ly, CEO of Sugar Bowl Bakery, summing up the hope of many CEOs across the nation.
“I’ve been keeping a watchful eye on inflation and interest rates and I anticipate increased business as COVID-19 and supply chain conditions improve over the next year,” says Arthur James, President at Mills James Productions, a video production company. He expects that conditions will improve from a 6 to a 7 one year from now.
Andrew Featherman, Esq., President at Intergroup, a real estate company, agrees with James, saying, “Supply shocks and inflation are one-offs and will stabilize by 4th quarter.” He expects conditions to remain at the 8 he rates them now.
“As we enter 2022 and demand seems to improve and potentially become greater as Covid subsides there should be pent up demand for services within the travel industry while supplies remain limited to due manufacturing delays,” shares Tom Mallo President and CEO of Malco Enterprises of Nevada, Inc., expressing his hope that business conditions will jump from a 5 to an 8 by 2023.
TC Chatterjee, CEO at Griffith Foods, agrees with Mallo and says, “Input prices, supply chain issues and labor shortages are dampening growth currently; I expect these to improve over the next 12 months to enable us to meet growing demand,” explaining why he thinks conditions will rate an 8 a year from now, compared to 6 today.
Not everyone agrees, of course. Eric Blumenthal, President of Focused Forward, a professional services firm, believes conditions will remain unchanged and adds that “Covid-19, widespread resignations, rising oil prices and computer hacking are all on my list of concerns.”
“The influx of government funding, stimulus, infrastructure, scarcity of goods, long supply chain challenges and overinflated (non-earning) company valuations create a challenging environment. Throw in a bit of SPAC performance, crypto uncertainty, possibility of tax law changes and an extended pandemic and we have a ‘deck of cards,’” says Christopher Perry, President of Broadridge Financial Solutions, who expects conditions to deteriorate from a 7 to a 4 over the year.
Joshua Goldschmidt, President at Eagle Construction, agrees with Perry that conditions will reach a 4 by 2023, saying, “Costs are just rising too fast.”
Still, this month, the proportion of CEOs forecasting worsening conditions dropped by a whopping 36 percent, from 39 percent in December, to only 25 percent at the start of the new year—the lowest proportion expecting conditions to deteriorate since March of last year. Now, almost the same percent of CEOs are expecting conditions to either improve (38%) or remain unchanged (37%)—a stark shift in outlook.
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January 10, 2022 at 08:00PM
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CEO Confidence Jumps At Start Of 2022 - Chief Executive Group
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