Hoping for increase in sales in the coming times, the chief executive officials at the major American companies are planning to step up the hiring process in the next six months.
According to the Business Roundtable, 40 percent of its member chief executive officials (CEOs) are planning to step up hiring more workers, a rise from 34 percent in the third quarter.
The estimates of nearly three-quarters suggest rise in the sales, which is roughly the same as the previous quarter.
Randall Stephenson, chairman of the Roundtable and CEO of AT&T Inc., said the results of the survey clearly reflect an ‘expanding’ economy, but at a rate that would be well below its potential, mainly when previous recoveries are compared.
According to the experts, the findings indicate that the sluggish growth overseas has not caused large corporations to retract on their plans for hiring. That bodes well for the report of the government on the job gains in November, to be released on Friday.
But the CEOs are skeptical about their invest plans in the new facilities or equipment. 13 percent CEOs plan to lower such spending, a rise from only 10 percent in the previous quarter.
Stephenson urged Congress to pass the legislation this month. The legislation would help in the extension of a series of tax breaks for several businesses such as a provision that reduces taxes for firms that invest in the industrial equipment and other big-ticket items.
The Roundtable has also planned to urge the Congressional leaders in the upcoming meetings, scheduled for this week, to get approval for the legislation that would provide President Barack Obama with broader authority to negotiate the trade agreements with Europe and a group of Asian nations.
The survey, which is based on 129 feedbacks from the 200 member CEOs of the Roundtable, was conducted between October 22 and November 12.