Executives across the United States are entering 2025 with renewed optimism, particularly when it comes to their own companies’ prospects, according to a new survey released by J.P. Morgan. The report, based on responses collected from 1,641 executives at midsize companies between November and December 2024, reveals that 75 percent of business leaders are confident about their organizations’ performance over the course of the year.
The findings highlight a notable divergence between leaders’ confidence in their own operations and their perceptions of broader global conditions. Nearly 60 percent of respondents reported optimism about their regional economies and industries, reflecting strong sentiment in local markets and sector-specific performance. By contrast, only 29 percent expressed confidence in the global economic outlook, underscoring the lingering impact of geopolitical uncertainties, international supply-chain challenges, and fluctuating global trade conditions.
This contrast between internal conviction and external caution is not new, but it is increasingly significant as U.S. companies position themselves for sustained growth in an environment that remains volatile. Executives surveyed emphasized that despite concerns about international markets, they continue to prioritize strategic expansion, operational investment, and innovation within their industries. This approach reflects a focus on controllable factors—such as regional demand and company-specific strengths—rather than the unpredictable variables of global markets.
The report points to several drivers of this optimism. Many midsize businesses are benefiting from strong consumer spending, technological advancements, and steady demand within U.S. markets. While challenges such as labor costs, inflationary pressures, and supply-chain adjustments remain, leaders indicated that these issues are being managed through long-term planning and targeted investment. Sectors including healthcare, technology, professional services, and advanced manufacturing were cited as particularly resilient.
At the same time, the survey reflects the pragmatic caution with which many executives are approaching 2025. Concerns about geopolitical conflicts, international trade policies, and uneven economic recoveries across global markets were frequently cited. Yet, rather than deterring growth, these factors appear to be reinforcing a focus on domestic opportunities. The U.S. economy’s relative stability, combined with signs of easing inflation and continued strength in consumer demand, has provided leaders with confidence in pursuing expansion strategies at home.
Analysts note that this optimism among middle-market executives could be a stabilizing force for the broader U.S. economy. These companies often serve as critical engines of employment and innovation, driving growth in regional economies. Their willingness to invest in operations, expand their workforce, and develop new products suggests that confidence at the company level may translate into broader economic resilience throughout 2025.
For J.P. Morgan, the survey underscores the importance of monitoring how sentiment among midsize executives evolves over time. These leaders are often closely attuned to regional conditions, making their perspectives an important gauge of economic health beyond Wall Street and major corporations. The firm highlighted that the combination of confidence in company-specific performance and cautious awareness of global headwinds is shaping a balanced approach to growth.
In conclusion, while global uncertainty continues to weigh on outlooks beyond U.S. borders, American business leaders are demonstrating steady confidence in their ability to manage challenges and capitalize on opportunities at home. Their optimism suggests that through the end of 2025, midsize companies will remain focused on resilience, strategic planning, and sustained growth, reinforcing the strength of the U.S. business environment.