Business Outlook Survey—Fourth Quarter of 2022

Results from the fourth-quarter 2022 Business Outlook Survey and the Business Leaders’ Pulse surveys from

January 16, 2023

Results from the fourth-quarter 2022 Business Outlook Survey and the Business Leaders’ Pulse surveys from October 2022 through January 2023 show that business sentiment has continued to weaken. As a result of rising interest rates, firms’ sales expectations and investment plans are softening. Capacity pressures have moderated from elevated levels. In this context, firms expect a slower pace of price increases.