JPMorgan Chase Survey: Most Businesses Expect Recession in 2023
. "While we have seen some encouraging signs that inflation has started to moderate and should cool over 2023, businesses may still want to consider adjustments to strategies, pricing or product mixes to help weather the storm in the near term."Some 83% of midsize firms told JPMorgan they have passed at least some of their increased costs on to consumers, and 82% said they would continue to do so.
The percentage of midsize company leaders who expressed optimism for the global economy plummeted to 8% from 34% a year ago, and their optimism for the U.S. economy dropped to 22% from 50%. "In today’s interconnected world, midsize businesses are increasingly vulnerable to global economic challenges, including ongoing supply chain issues, increased costs of raw materials, geopolitical events and other uncontrollable factors," Chambless told. "These challenges and their associated impacts are all contributors to a more pessimistic global economic outlook."
Lynn Gooden, 44, updates inventory at her business, Mother's Hair Beauty Supply, Aug. 16, 2022, in Houston, Texas.
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