An annual survey conducted by the Conference Board revealed on Thursday that 670 company CEOs across the United States expect a short-lived recession this year, with the economy returning to growth by 2024.
"98% of CEOs in the US think there is going to be a recession - but it's going to be short and shallow," said the Conference Board's chief economist Dana Peterson. The survey found that top executives will try to avoid recruitment freezes and drop job cuts in response to the economic downturn and instead focus on other ways to invest in their companies.
The survey results follow a string of job cut announcements from various companies as the International Monetary Fund (IMF) predicted that 2023 will be tougher "than the year we leave behind."
