The economic expectations of leading U.S. chief executives have dropped to the lowest level in three years amid concerns about taxes and the global economy, according to survey results released Tuesday.
Reduced expectations for sales and capital spending over the next six months pushed down the quarterly economic outlook index from the Business Roundtable, a trade association of CEOs of the largest U.S. corporations.
It was the third straight decline for the index, which fell to 67.5 in the fourth quarter from 74.1 in the previous quarter, the group said.
The index’s long-term average is 80.1 within its range of 150 to negative 50. It dropped to negative 0.5 at its...