Fortune 500 executives paint bleak outlook for economy in 2012
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CHARLOTTE – Bank, energy and manufacturing executives gave sobering predictions for next year's economy Monday at this year's Economic Outlook Conference at the Charlotte Convention Center.
The event was headlined by six CEOs from mostly Charlotte-based Fortune 500 companies. They each weighed in on public policy, expected job growth and economic stumbling blocks.
All six predicted economic growth for 2012 to be anemic – between 1 and 2 percent. They say 3 percent is the magic number needed to create jobs.
Dan DiMicco, the CEO of Nucor says employment is the biggest hurdle facing the U.S. economy. He says companies aren't creating jobs for skills people currently have.
Most on the panel agreed but they also point their fingers to Washington, saying legislative leaders aren't working together or doing enough to improve public policies that could spur growth.
“For 2012, can we channel our efforts to pushing forward in this country instead of being divisive in this country and pushing back,” said Bank of America CEO Brian Moynihan.
This was the 10th year the Charlotte Chamber hosted the Economic Outlook Conference.