Majority of the world's CEOs expect a slower economy in 2020, survey says

More than half of the world's CEOs expect a slower growth economy in 2020, marking a level of pessimism among global corporate leaders not seen in at least eight years. 

That's according to a study published Monday by the professional services firm PwC, which timed its release ahead of the World Economic Forum in Davos, Switzerland this week. 

PwC polled 1,581 CEOs from 83 countries and found that 53% expect the pace of global economic growth to decline in the year ahead. Until now, the share of CEOs expressing economic pessimism hadn't reached 50% since PwC started asking the question in 2012. 

In North America, 63% of CEOs said they anticipate an overall growth decline in the next 12 months. And in the U.S. specifically, the trade war and cyber threats were a primary concern.

Dating apps: How to protect your personal data from hackers, advertisers

Air taxis, Hyperloop, self-driving cars: What your commute could look like in 2030

"While this more subdued outlook may cause concern, it is also not surprising," said Bob Moritz, Global Chairman at PwC in a statement. "Shifting headlines around trade conflicts, climate change, political strife, cyber threats, social unrest and the like, cloud CEOs outlook on the road ahead."

Just one year earlier, chief executives were extremely optimistic about the economy's growth. In fact, only 29% projected a slowdown in 2019. In 2020, only 22% of the chief executives polled said they were optimistic about the rate of economic growth.

Though, PwC notes that a global recession is "unlikely."

CEOs in the U.S. were also slightly less confident about their individual organization's outlook for the year as well, with 36% reporting being "very confident" about their organization's performance in the near-term. In 2019, 39% of U.S. leaders shared the same sentiment. 

Fewer companies will focus on launching new products in the year ahead to drive growth. And many CEOs in China will shift production from the U.S. to other territories like Australia due to ongoing trade conflicts.

Beyond the year ahead, most CEOs foresee government intervening in the tech industry, potentially breaking up major companies, the survey found. Many CEOs also think consumers will be compensated for personal data in the years ahead. 

Follow Dalvin Brown on Twitter: @Dalvin_Brown.