The CEOs of JPMorgan, General Motors, Walmart and others are gearing up for a potential economic slowdown in 2023.
The consumer is still strong, but we are planning for conservative 2023, says GM CEO Mary BarraCEO Mary Barra anticipates economic headwinds next year but is not sounding the alarms for a recession just yet.
"I'm not going to call a recession, that's for economists to do," Barra told CNBC. "But right now, we're still seeing a pretty strong consumer."to be prepared for a potential collapse in demand, similar to what other industries have seen. During the pandemic, when consumers were spending less on travel and services, some industries saw elevated demand and were caught off guard when that demand later disappeared.but that she is still seeing "pent-up demand" lingering from the pandemic.
Barra also expects issues problems from the pandemic, such as semiconductor shortages and strained supply chains, to persist into 2023 despite improvements each quarter.
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