The latest Business Roundtable CEO Economic Outlook Index has plunged to its lowest level since 2020, dropping 15 points to 69 in the second quarter of 2025. The survey of 169 chief executives conducted from June 2-13 reveals growing pessimism about the U.S. economic outlook, with hiring intentions suffering the steepest decline of 19 points.
Cisco CEO and Business Roundtable chair Chuck Robbins noted the results reflect significant CEO caution about the coming six months. The bleak sentiment comes as 41% of surveyed executives anticipate workforce reductions in their companies - a sharp increase from 29% last quarter - while only 26% plan to increase hiring, down from 33%. Capital expenditure plans also fell 15 points and sales expectations dropped 11 points.
Business Roundtable CEO Joshua Bolten attributed the deteriorating confidence to an unpredictable trade policy environment and widespread economic uncertainty. He specifically cited recent tariff threats from the Trump administration, warning that tax reform alone cannot address business concerns. "American companies need the government to quickly reach agreements with trade partners, open markets, eliminate harmful tariffs, and provide investment certainty," Bolten stressed.
The employment market faces particular challenges, with many corporations implementing hiring freezes or workforce reductions to streamline operations. The survey results align with recent job cut announcements from major tech firms and other industries, suggesting the U.S. economic expansion may be losing momentum amid growing trade tensions and policy instability. While the index remains above the 50-point threshold, indicating economic growth, the dramatic quarter-to-quarter decline signals mounting headwinds for American businesses.
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