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Bloomberg
American business confidence in the world economy has surged, adding to an uptick in overall optimism as US tax cuts and looser regulation improve the outlook for domestic growth, according to a new study.
Some 69 percent of leaders from mid-size companies across the US said they were optimistic about the global economy this year, more than double the 30 percent in 2017, according to the JPMorgan Chase & Co. survey. The latest results marked the highest share of confidence in the eight-year history of the report, which indicated small businesses are similarly upbeat.
The survey also showed 89 percent were confident in the US economy’s prospects this year, up from 80 percent in 2017 and 39 percent in 2016. Some 70 percent said the reduction in tax rates would benefit their companies “somewhat†or “to a great extent.†The survey showed that of those expecting to benefit, they will use the savings to pay down debt, invest in their businesses.
Some 76 percent of leaders from mid-size firms said they plan to raise compensation.