September 28, 2010

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U.S. chief executive officers’ view of the economy darkened in the third quarter, breaking a five-quarter streak of improvement and turning corporate America more cautious on hiring.

The number of CEOs who expect their companies’ sales and U.S. headcount to rise over the next six months declined in September, a Business Roundtable survey released on Tuesday found. More bosses expect to boost their capital spending, however, reflecting many companies’ cash-rich balance sheets.

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“This is and will continue to be somewhat of a long and uneven recovery. We’re not seeing a lot of major momentum develop here,” said Ivan Seidenberg, CEO of Verizon Communications Inc (NYSE:VZ – News), who also serves as chairman of the Roundtable. “Until we see aggregate demand start to materialize, hiring will continue to be on somewhat of a slower pace.”

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