From Uncertainty to Opportunity: CEOs Chart a Course for Sustainable Growth

• Optimism for the global economy doubled to 28% from 14% in spring 2025
• In response to current economic and trade policy uncertainties, 80% plan to implement cost-cutting measures, while 64% plan to raise prices on goods and services
• Half of surveyed CEOs believe the impact of tariffs will have an equal mix of benefits and risks for their organizations while 78% expect they'll have fewer benefits than risks for the US economy

Why this matters to CEOs 
The "Fortune/Deloitte CEO Survey" tracks the perspectives and actions of CEOs from some of the world's largest and most influential companies. The survey uncovers key insights into CEOs' assessment of the economy, their company's performance, and perceived business risks and opportunities. Respondents represent executives across 19 industries.

Overview 
Following the announcement of reciprocal tariffs earlier this year, surveyed CEOs are indicating a more favorable view of the global economy and their own companies' performance, a potential signal that they are seizing new opportunities and recalibrating strategies to position their organizations for growth. This includes measuring the impact of AI investments on their business and creating resilient supply chains.

Key quotes
"With renewed optimism this fall, CEOs are focused on stability and growth. After months of uncertainty around policy and economic shifts, they're recalibrating to cut costs where needed, strengthen supply chains, and apply AI to boost efficiency and resilience."
-       Jason Girzadas, CEO, Deloitte US

"This survey is a reminder that global leaders are focused on the global business landscape, where they see new opportunities emerging as they continue to navigate challenges in the U.S. market."
-       Diane Brady, Executive Editorial Director, Fortune Live Media and Fortune CEO Initiative

Outlook and disruptors
The pace and degree of change, along with continued economic and geopolitical uncertainty, were cited CEOs' top challenges, according to the survey. Leaders also pointed to workforce concerns, such as ongoing talent shortages, skillset gaps, and employees' ability to adapt to the rate of change.

Implications for AI
Over two-thirds of surveyed CEOs (68%) expect AI to have a moderate to significant impact on enterprise strategy, particularly in shaping long-term vision and growth. To measure that impact, 84% of leaders are tracking AI's performance through cost savings and operational efficiency, while 64% are evaluating employee AI adoption and use. Recognizing that true transformation starts at the top, CEOs leading by example — 69% are developing AI usage policies for their workplaces, and 56% are working to cultivate an ethical culture around AI.

Impact of trade policy
While over three-quarters of surveyed CEOs do not expect tariffs to have a net positive impact on the US economy, 51% find that these policies could present an equal balance of benefits and risks for their own organizations. In response to the evolving landscape, 80% of leaders said they are likely to implement cost-cutting measures over the next year, while 64% say they'll raise prices.

Survey methodology
Fielded between October 3-16, 2025, 69 CEOs representing 19 industries shared their perspectives, expectations, and priorities for the next 12 months. Leaders surveyed include Fortune 500 CEOs, Global 500 CEOs, and select public and private CEOs in the global Fortune community. The Fall 2025 survey is the 16th edition of the "Fortune/Deloitte CEO Survey" series.

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About the Chief Executive Program
Deloitte's Chief Executive Program, part of Executive Accelerators, is dedicated to advising chief executives throughout their careers — from navigating critical points of inflection, to designing a strategic agenda, to leading through personal and organizational change.

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SOURCE Deloitte LLP