COVID- 19 has wreaked havoc on the global economy. For a short while, optimists were predicting a V-shaped recovery. Many once reasoned that if business was sound and growing before the COVID-19 outbreak, the firm would rebound rapidly once the lockdown lifted. Now about 8 weeks in, that theory is pretty much in tatters. Jarome Powell, the Federal Reserve Chairman, made clear that this fantasy was effectively “off-the-table”.
CEOs of the Fortune 500 largely concur with Powell’s statement. Alan Murray’s survey of leading executives at top US firms published in Fortune sheds new light on the deep recovery firms must navigate.
The majority (58.3%) of the CEOs predict that economic activity will not return to pre-pandemic levels until Q1 2022. 36.7% felt that companies’ capital spending levels will not return to
This article was originally published on on TalentTechLabs.
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