97% of executives say we’re in or headed for a recession, survey finds

According to the overwhelming majority of business executives, they are preparing for a recession a new survey.

Nearly all 70 business leaders surveyed by Stifel Financial believe the U.S. economy is already in a recession (18 percent) or will face one in the next 18 months (79 percent). Only 3% believe it will be completely avoided.

“We’ve heard that constantly,” said Michael Kollender, head of diversified consumer, retail and industrials investment banking at Stifel.

“They think we’re in a recession or going into one very soon,” Kollender told Yahoo Finance Live.

The study also found that inflation and a tight labor market represent the two biggest perceived threats to running a business today.

“CEOs are struggling to find meaningful enough labor levels at attractive enough prices,” Kollender said. “Not far behind are inflation, recession and supply chain issues.”

The survey found that 53 percent of respondents believe inflation will be a problem over the next two quarters to a year, and another 43 percent expect high prices to continue even longer.

The latest Consumer Price Index (CPI) showed a moderate slowdown in inflation, reflecting a fall in energy prices. July prices rose 8.5% year-on-year, down from 9.1% in the previous month’s reading. Compared to the previous month, consumer prices did not change in July.

The survey specifically focused on corporate executives, business owners and private equity investors in the diversified consumer, retail and industrial sectors.

Ines is a market journalist who covers shares. Follow her on Twitter at @ines_ferre

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About the Author: Chaz Cutler

My name is Chasity. I love to follow the stock market and financial news!