Business sentiment among large US firms falls for 4th straight quarter

This article is more than 12 months old

Mar 22, 2019 06:00 am

NEW YORK: Business sentiment among large US companies fell for the fourth straight quarter, according to a report on Wednesday that highlighted worries about slowing growth outside the United States.

The economic outlook rating among US chief executives declined to 95.2 in the first quarter from 104.4 in the third quarter, according to the Business Roundtable.

Roundtable chairman Jamie Dimon, the chief executive of JPMorgan Chase, said sentiment was dented by weakness in the fourth quarter in overseas economies, including Germany and Japan.

Mr Dimon also said that Brexit uncertainty posed a near-term risk, adding that Britain's travails over its impending divorce from the European Union had been a "negative for a while" and that "there is a growing risk in 10 days that you'll have a so-called 'hard Brexit'."

Plans for capital investment, hiring and sales expectations all declined compared with the prior quarter.

However, all three categories remain high by historical standards, said the lobbying group. - AFP