Three-quarters of global chief financial officers at leading companies think that Democrat presidential nominee Joe Biden will oust President Donald Trump in November, according to the latest poll from CNBC.
The Q3 survey of the CNBC Global CFO Council, which includes the top executives from some of the world’s largest public and private companies who preside over a combined market value of $5 trillion, shows an overwhelming majority of top executives expect Trump to lose in the general election. CNBC notes that three-quarters of all respondents said that Biden will win, and “that same number holds true for North American-based members.”
- 75% of CFOs predict Biden will win the election.
- 20% predict Trump will win.
- 5% are unsure or had no response.
Among North American respondents, just over 60% think that the Senate and the House will remain in control of the Republican and Democratic Parties, respectively, while one quarter think that Democrats will take control of the Senate, and just over 5% think the GOP will take the House.
- 63% think control of the House and Senate will remain unchanged.
- 25% think Democrats will take the Senate.
- 6% think the GOP will take the House.
CNBC notes that while most incumbent presidents are put at a disadvantage by a poor economy, “Trump faces a true uphill battle when it comes to the election in the midst of this particular recession. That’s because this one is projected to be the worst since World War II with the global economy shrinking by 5.2% and the U.S. by 6.1% this year, according to the the World Bank.”
The CNBC Global CFO Council Q3 survey was conducted from August 7 to August 22 with 40 members of the council from around the world.
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