US CEOs fear economic uncertainty more than their global peers as they head into 2026

The main worry facing CEOs of U.S. companies as 2026 begins is economic uncertainty, which is a bigger concern for American business leaders than their global counterparts, according to a new report.

The Conference Board released a survey of more than 1,700 executives, including more than 750 CEOs, from North America, Europe and Asia, which showed a difference in the primary worry bothering CEOs of firms in the U.S. versus those around the world.

Uncertainty was the leading economic concern among U.S. CEOs for 2026, with 43% of respondents ranking it as the top threat, followed by 35% citing the risk of a downturn or recession. 

Among CEOs globally, an economic downturn or recession was the top threat for 2026 for 36% of respondents, while uncertainty ranked second with 29% calling it the top economic threat.

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"Heading into 2026, CEOs are navigating converging pressures that are weighing on profits and growth. At the same time, these forces are spurring innovation, with most CEOs worldwide focused on revamping their business models," said Dana M. Peterson, chief economist at The Conference Board.

The survey also asked CEOs about their views of the workforce, which showed that despite the labor market slowing, American workers are still exercising their bargaining power in the hiring process.

Over one-quarter, 27%, of U.S. CEOs named "expectations of higher compensation" as a key challenge in hiring workers — a figure that outpaced Asia (19%) and Europe (15%).

The top priority among U.S. CEOs in boosting the profitability of their businesses was making business model changes, which 60% of CEOs cited. 

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The CEOs' main focus on artificial intelligence (AI) for 2026 was cited as trying to measure return on investment (ROI), with 46% saying they want to improve data quality and quantity to measure their ROI. Measuring ROI is also the top AI priority among global CEOs, though the share is lower at 33%.

U.S. CEOs are also more pessimistic about the impact of AI on their companies in 2026, with 38% saying AI will negatively affect their companies this year due to societal, demographic and technological shifts.

That pessimism is shared by global CEOs, with 30% expecting a negative impact on their firms that exceeds climate events (17%) and political polarization (26%).

AI was also an important investment priority cited by 39% of CEOs, and its integration was also the top supply chain priority for CEOs in the U.S.

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While the survey found that CEOs across geographies named their home region as their top expansion priority, the most-cited region overall was the U.S. and Canada, which 53% of respondents said would be their expansion priority.

The top geopolitical threat cited by CEOs was cyberattacks, which 54% of U.S. CEOs and 47% of global CEOs ranked as their biggest concern in that space.

Ranking closely behind cyberattacks were the geopolitical threats of uncertainty and armed conflicts. 

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Although war wasn't a top concern among U.S. CEOs, their counterparts around the world were more concerned, as CEOs in Japan ranked war in the Asia-Pacific region first, European CEOs ranked war in Europe third, and CEOs from other parts of Asia ranked war in the Middle East third.