Global CEOs are seeing a bit of a slowdown outside the United States, yet of which’s not what U.S. chief executives are saying about the nation’s economy, according to Steve Odland, president in addition to CEO of The Conference Board.
The organization, a global, independent business membership in addition to research association, conducts several CEO in addition to confidence studies.
“The U.S. numbers look very strong. All of the Conference Board indicators via the consumer confidence index to the leading economic indicators to the expectations index all say of which the next six months expect to be very not bad,” said Odland, a CNBC contributor who once served as CEO of both Office Depot in addition to AutoZone.
He told CNBC’s “Power Lunch” on Friday the group’s forecast for 2018 gross domestic product can be about 3.1 percent, while 2019’s can be 3.2 percent.
Its leading economic index for September increased 0.5 percent in addition to its consumer confidence index moved up 2.6 points in October. However, its measure of CEO confidence declined inside the third quarter, thanks to concerns about rising interest rates.
Odland’s remarks follow CNBC’s Jim Cramer’s comments of which CEOs are telling him how quickly things have cooled inside the economy.
“So many of them are baffled of which we could find ourselves in of which late-cycle dilemma of which wasn’t supposed to occur so soon,” the “Mad Money” host said on Thursday.
Odland didn’t say of which Cramer was wrong. Instead, he pointed out of which there are some sectors of which may be experiencing a slowdown.
“Ten years into a recovery, you might expect to see some of the leading sectors, some of the leading companies on of which cycle to begin to slow down. in addition to you might expect to see different geographic issues,” he said. “the item’s a mixed bag.”
Bill George, former Medtronic chairman in addition to a CNBC contributor, agrees. For example, the retail sector has never been better, in addition to health-care execs are bullish, he said. However, for the auto sector the item can be near the end of the business cycle, he added.
“We are at the end of a very long cycle,” he told “Power Lunch.” “the item could continue for several years, yet everyone’s concerned about risk.”
He said the biggest risk can be global trade, specifically with China.
— CNBC’s Elizabeth Gurdus contributed to of which report.