Record low proportion of US midsize companies are gloomy about economy

• 19% of US midsize companies are positive about the national economy over the next year.
•  This is a record low in the 12-year history of the study by JPMorgan Chase.
•  In comparison to a year ago, economic pessimism increased from 10% to 51%.

According to a study by the nation’s largest bank, a record-low percentage of midsize business leaders in the United States are positive about the national economy over the next year.

In spite of this pessimism, which was caused by inflation and labour issues, the majority of respondents were optimistic about their own businesses.

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This represented a new low in the 12-year history of the study, falling from 75% the previous year. In comparison to a year ago, economic pessimism increased from 10% to 51%.

Seventy-one percent of respondents listed inflation as the greatest business obstacle. Seventy percent of the questioned business leaders mentioned labour issues, such as hiring barriers and labour shortages, as the second most pressing concern.

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Despite pessimism regarding the U.S. economy, respondents were optimistic regarding their personal enterprises. Seven out of ten were confident about their company’s success over the following year, and five-fifths were enthusiastic about their industry’s future, but both figures were down from the previous year.

The majority of respondents anticipate improved earnings and nearly three-quarters anticipate increased income or sales in the coming year.