Fewer than 8% of midsize business leaders in the United States have a positive outlook about the global economy today, down from nearly one-third a year ago. Moreover, nearly two-thirds expect a recession this year.

“But the news isn’t all doom and gloom,” according to the 2023 Business Leaders Outlook Survey from J.P. Morgan Chase. “Most leaders (66%) are still optimistic about their own company’s performance. Nearly 90% expect to add or keep employees. And supply chain challenges have eased somewhat: 39% say it has gotten easier over the past 12 months to source materials and ship goods.”

More than 90% of midsize company leaders say their businesses were experiencing challenges because of inflation, and 45% of small-business owners cite rising prices as their top concern, a 20% increase from last year’s survey.

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