International CEOs are seeing a little bit of a slowdown exterior the US, however that is not what U.S. chief executives are saying in regards to the nation’s financial system, in accordance with Steve Odland, president and CEO of The Convention Board.



The group, a worldwide, impartial enterprise membership and analysis affiliation, conducts quite a lot of CEO and confidence research.


“The U.S. numbers look very robust. The entire Convention Board indicators from the patron confidence index to the main financial indicators to the expectations index all say that the following six months anticipate to be excellent,” mentioned Odland, a CNBC contributor who as soon as served as CEO of each Workplace Depot and AutoZone.


He instructed CNBC’s “Energy Lunch” on Friday the group’s forecast for 2018 gross home product is about 3.1 %, whereas 2019’s is 3.2 %.


Its main financial index for September elevated 0.5 % and its shopper confidence index moved up 2.6 factors in October. Nevertheless, its measure of CEO confidence declined within the third quarter, due to considerations about rising rates of interest.


Odland’s remarks comply with CNBC’s Jim Cramer’s feedback that CEOs are telling him how shortly issues have cooled within the financial system.


“So a lot of them are baffled that we may discover ourselves on this late-cycle dilemma that wasn’t presupposed to happen so quickly,” the “Mad Cash” host mentioned on Thursday.


Odland did not say that Cramer was fallacious. As an alternative, he identified that there are some sectors that could be experiencing a slowdown.


“Ten years right into a restoration, you’d anticipate to see a number of the main sectors, a number of the main corporations on that cycle to start to decelerate. And you’d anticipate to see totally different geographic points,” he mentioned. “It is a blended bag.”


Invoice George, former Medtronic chairman and a CNBC contributor, agrees. For instance, the retail sector has by no means been higher, and health-care execs are bullish, he mentioned. Nevertheless, for the auto sector it’s close to the top of the enterprise cycle, he added.


“We’re on the finish of a really lengthy cycle,” he instructed “Energy Lunch.” “It may proceed for a number of years, however everybody’s involved about threat.”


He mentioned the most important threat is world commerce, particularly with China.


— CNBC’s Elizabeth Gurdus contributed to this report.




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