A survey by Stifel investment bank shows a whopping 18% of executives, business owners, and investors say we are already in a recession, and 79% of U.S. executives say they expect an economic downturn over the next 18 months.
With inflation at a 40-year high, the survey shows that 89% of respondents are very concerned or moderately concerned about inflation’s impact on their business in the foreseeable future. Interestingly, 81% of executives say they are passing on rising costs to consumers over absorbing them.
The survey also shows that the labor shortage is impacting the business sector; 64% said that labor constraints posed the highest risk to their company, followed by inflation (59%) and then recession (54%).
The concerns of business owners and executives are important to look at when evaluating the overall health of the economy because they are the major drivers on both main street and Wall Street.
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