Nearly two-thirds (64%) of CEOs plan to pursue a mergers and acquisitions (M&A) deal in the next 12 months, as they forecast a mild downturn, according to EY’s latest US CEO survey.

There were also signs that the majority of senior executives were more positive about their organisation’s financial performance than they were six months ago.

Among companies with revenue of $5bn (£3.9bn) or more, a majority (53%) said they were more optimistic in the latest survey.

Last year, around a third of the deals made in the first half of 2023 were in technology and IT, many with an emphasis on artificial intelligence (AI). As a result, around 80% said they had either integrated AI into their products and services or plan to within the next year.