81% of CEOs expect a US recession—but it will be 'brief and shallow'

(Credit: Melissa Lyttle—Bloomberg/Getty Images)

Good morning.

CEO confidence continued to deteriorate in the third quarter, according to a metric compiled by the Conference Board, in collaboration with the Business Council. Fresh out this morning, the Measure of CEO Confidence fell deeper into negative territory than at any time since the beginning of the pandemic—registering 34 this quarter, down from 42 in the second quarter. Anything below 50 indicates more negative than positive responses from CEOs.