CEOs of the world’s leading firms are entering 2025 with increased economic optimism, according to a new Teneo survey.
The hope is fuelled by the potential of President-elect Donald Trump’s return to the White House, as well as enhanced global political stability and economic expectations.
Key Insights from the Survey
The data shows:
- 77 percent of CEOs expect the global economy to strengthen in the first half of 2025, a big increase from 45 percent last year.
- CEOs of organizations with more than $10 billion in yearly revenue are particularly optimistic.
- 50 percent predict an improvement, compared to 16 percent in 2023 and 6 percent in 2022
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The Impact of Trump’s Return
The survey shows:
- The Trump administration’s pledges of fewer corporate taxes and regulations have raised expectations for economic growth.
- However, larger corporations remain concerned about Trump’s proposed tariffs, particularly a 25 percent levy on imports from Canada and Mexico.
- Tariffs are seen positively by only 13 percent of large-company CEOs, compared to 80 percent of small-business leaders.
Mergers & Acquisitions (M&A) Expected to Rise
Teneo’s data also shows:
- Over 80 percent of CEOs predict a pickup in M&A activity in 2025.
- Global M&A value has risen nearly 18 percent this year, though it remains below the record highs of 2021.
- 45 percent cite tougher regulatory approvals as a major barrier to deal-making.
Inflation and Interest Rates
- Nearly 80 percent of CEOs expect inflation to accelerate in their regions, reflecting ongoing price pressures.
- 60 percent anticipate central banks will raise interest rates in the first half of 2025, though U.S. markets are pricing in potential rate cuts next year.
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Corporate Leaders Align with Trump Administration
Prominent executives have been quick to forge relationships with the incoming Trump administration:
Meta CEO Mark Zuckerberg, Amazon founder Jeff Bezos, and OpenAI CEO Sam Altman have each pledged $1 million to Trump’s inaugural fund.
While some business leaders remain wary of trade policies, Trump’s economic platform has broadly resonated with corporations looking for pro-business policies and regulatory relief.
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The Road Ahead
The poll shows a dramatic change in the attitude of business executives, particularly those in charge of multinational conglomerates.
Expectations for 2025 are fuelled by optimism about reduced taxes, enhanced political stability, and a possible resurgence in transaction activity.
But persistent worries about tariffs, inflation, and regulatory barriers draw attention to the difficulties CEOs will face in the coming months.
