One executive with a pulse on global companies says they're displaying more cautiousness when it comes to investing.
"A lot of companies that I've been meeting with are slowing down their investments," S&P Global (SPGI) chief executive officer Doug Peterson told Yahoo Finance at the World Economic Forum in Davos, Switzerland, this year.
"We do see a slowdown in the E.U., U.K. and U.S. — could be into a mild recession, [with a] recovery later this year. We don't quite know the timing," said the CEO of the ratings, data and market analysis firm.
The uncertainty over how the year will play out is feeding into cautious spending and investment trends.
"[Companies] want to see what the conditions will be like, what kind of growth we're going to have," said Peterson. "We see a few that are doing layoffs, and lowering their cost base, but most are just cautiously slowing down."
Earlier this week cloud software giant ServiceNow's chief financial officer told Yahoo Finance it's easier to find work talent today, compared to a year ago.
“The ability to snap up some great talent is better today than certainly the last year. So we’re taking advantage of that for sure,” Gina Mastantuono told Yahoo Finance's Brian Sozzi and Julie Hyman.
Ines is a senior business reporter for Yahoo Finance. Follow her on Twitter at @ines_ferre
More Yahoo Finance coverage of Davos 2023:
Rubenstein: Fed will settle for 'tolerable' 3% inflation, doesn't see imminent recession
Nouriel Roubini says 'literally 99% of crypto is a scam'
Roubini: U.S. debt ceiling fight is a potential 'financial catastrophe'
'You can see': Citi CEO details how the bank handles productivity amid hybrid work
Why Unilever's CEO has embraced Disney investor Nelson Peltz
Immigration tops U.S. officials' agendas at this week's global gathering
Gary Cohn on recession fears: 'We've weathered the storm in the United States'
Bank of America CEO: No mass layoff announcements are in the cards
Bank of America CEO on Fed easing: Why 'higher for longer' makes sense
Davos: PwC survey finds 'bleak CEO outlook' for 2023
Davos 2023: ChatGPT ‘a great co-pilot for creatives,’ will.i.am says
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S&P Global CEO: Companies 'cautiously slowing down' amid uncertainty – Yahoo Finance
