WASHINGTON: Chief executives at top US companies expect a weaker economic performance this year than in 2002, and many believe they will need to reduce payrolls over the next six months, a new survey has found.
According to the survey by the Business Roundtable, whose member companies have a combined workforce of 10 million and US$3.7 trillion in revenues, CEOs expect US gross domestic product to advance just 2.2% this year, a bit less than the sluggish 2.4% gain registered in 2002.
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