COVID, Recession and CEOs – 60% believe it will be U-shaped, 22% a ‘double dip’

• A survey, conducted by YPO, has revealed what business leaders think a recession sparked by COVID-19 could look like.
• 60% believe the recession will be U-shaped, whilst 22% believe it could be a ‘double dip’ recession.
• Many fear that their firms won’t be able to survive the crisis.

Global business leaders are preparing for a drawn-out U-shaped recession due to the impact of coronavirus and many fear their companies won’t survive the pandemic, a survey of thousands of chief executives showed on Wednesday.

Around 60% of chief executives are preparing for a U-shaped recovery – a long period between recession and an upturn – compared with 22% who predict a double-dip recession, according to an April 15-19 poll of 3,534 chief executives from 109 countries conducted by YPO, a business leadership network.The survey found that 11% of chief executives see coronavirus as a risk to the survival of their firm, while a further 40% say the pandemic poses a severe threat.

Chosen excerpts by Job Market Monitor. Read the whole story @ CEOs think a coronavirus-sparked recession might be U-shaped | World Economic Forum