The KPMG 2022 CEO Outlook Survey found that 79% of UK CEOs predict that a recession will impact company earnings by up to 10% and will disrupt anticipated growth.

Around three-quarters (72%) have already taken precautionary measures ahead of a looming recession.

Despite these concerns, senior executives feel more confident about the resilience of the economy over the next six months (73%) than they did in February (60%). In addition, 80% are confident about the global economy’s growth prospects over the next three years.

Bill Thomas, global chairman and CEO, KPMG, said: ‘Once-in-a-generation issues – a global pandemic, geopolitical tensions, inflationary pressures and financial difficulties – have come in short succession and taken a toll on the optimism of global CEOs.

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