SMB CEO Confidence Falls 3.4 Points to 80.8 as Costs Squeeze Margins
San Diego – October 19, 2026 -- The Vistage CEO Confidence Index fell 3.4 points to 80.8 in Q3 2026 from 84.2 in the prior quarter, marking the third consecutive quarterly decline in small and midsize business (SMB) CEO sentiment.
Expectations for the year ahead dropped the most. Only 19% of CEOs expect the U.S. economy to improve over the next year, down 10 percentage points from last quarter and 13 points below Q3 2025. A further 34% expect conditions to worsen, up 8 points.
Revenue hopes hold at 62%, but profit expectations lag at 47%
Some 62% of CEOs expect higher revenue, down 2 points from last quarter. Only 47% expect higher profit, as rising costs erode margins. Of those surveyed, 36% plan to increase fixed investments over the next year, down from 38% in Q2. Another 46% say U.S. economic conditions have worsened versus last year, while 14% say they have improved, down 5 points.