CEOs Down On 2023 Economic Growth

More than three quarters of Canadian chief executive officers (CEOs) (76 per cent) believe that global economic growth will decline over the next 12 months, says PwC's ‘26th Annual Global CEO Survey.’ This is the most pessimistic CEOs have been regarding global economic growth in over a decade and is a significant departure from the optimistic outlooks of previous years where a majority of the CEOs had thought economic growth would improve. A significant number of both global CEOs (39 per cent) and Canadian CEOs (25 per cent) believe their company will no longer be economically viable a decade from now if they continue on their current path. The result is a race to reinvent their businesses, which many are planning to pursue through further investments in digital transformation initiatives like automation of processes and systems and deploying cloud, artificial intelligence, and other advanced technologies.