CEO confidence at a historic low

Waiting to take off can be one of the most frustrating aspects of air travel. Sitting on the tarmac as you slowly inch forward in a queue of planes can be compared to the tension CEOs feel waiting for the next growth cycle to take off. The Q4 Vistage CEO Confidence Index rose 6 points to reach 82.0 — the fifth time in six quarters — and while optimism is improving, the historical lows of economic confidence show that takeoff is still delayed. Despite healthy GDP in 2023, CEOs’ concerns regarding the current and future economy stay within ranges not seen since the waning days of the Great Recession in 2008. Compared to Q4 2022, both expectations for the next 12 months and a review of last year are well above the lows hit in Q2 2022, yet still well below the norm established during the rising economic tide of the 2010s. CEOs are challenged to manage growth through the slow period forecasted in 2024. As Brian Burns, Co-Founder of Cutting Edge Countertops shared in the survey, one of his biggest challenges is “managing through a changing economy. As markets soften, marketing and sales must change gears and have the mindset of gaining market share. It’s more important than ever for the operations side of the business to execute and help win business.”