US Business Optimism Slumps in ‘Clear Pivot’ From Trump Election

US business optimism has moved sharply lower, deepening a trend seen in the first quarter and marking a sharp reversal from the buoyant mood among executives after Donald Trump’s reelection as president.

Less than a third, or 27%, of executives polled in May by the Association of International Certified Professional Accountants said they were confident about the economic outlook for the 12 months ahead, down from 47% of respondents in the first quarter and 67% in a survey conducted in the fourth quarter, just after the US vote.

“We’re seeing a lot of revised expectations: delayed hiring and ...