Fewer US CEOs planning to expand, hire

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Associated Press

Posted on September 26, 2012 at 9:00 AM

Updated Wednesday, Sep 26 at 10:02 AM

WASHINGTON (AP) — A survey of U.S. chief executives shows a sharp drop in the number of large companies that plan to add jobs or hire more workers.

The Business Roundtable says that only 29 percent of its member CEOs plan to increase hiring over the next six months. That's down from 36 percent in June, when the group last released its quarterly survey.

CEOs are more pessimistic about their future sales and the overall U.S. economy. While 58 percent expect their sales to increase over the next six months, that's down from 75 percent in the June report.

The Roundtable says CEOs are also worried about the impact of a package of budget cuts and tax increases that is set to take effect at the start of next year.

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