Unfazed by the Middle East situation, CEOs of major American companies remain confident in the economy, reaching a new high in over a year

Despite the uncertain global economic outlook, rising energy prices due to the Iran conflict and market turbulence, CEOs of major U.S. companies remained optimistic in the first quarter.

According to a survey released on Wednesday, the Business Roundtable CEO Economic Outlook Index rose 9 points to 89, reaching a new high in over a year. An index above 50 indicates expectations of growth in capital expenditures, sales, and hiring over the next six months.

The survey was conducted from February 23 to March 6, with 169 CEOs participating. During this period, the U.S. Supreme Court had just overturned several of President Trump’s tariffs, and the U.S. and Israel launched attacks on Iran.

Chuck Robbins, Chairman and CEO of Cisco Systems and Chair of the Business Roundtable, stated in a release: “The results reflect the impact of last year’s tax reform, responsible deregulation, and the resilience of the U.S. economy. We look forward to continuing to work with the Trump administration and Congress in the coming months to promote policies that can drive long-term growth.”

Hiring plans have improved, but about one-third of CEOs still plan to lay off employees in the coming months.

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