Hiring plans are curbed.

Chief executives of large U.S. companies are downgrading their 2016 hiring plans and growth expectations.

Wall Street Journal staffer Eric Morath reports that more top corporate leaders said they expect to cut employment at their firms in the next six months than add jobs, according to the Business Roundtable’s first-quarter CEO Economic Outlook Survey. Morath writes:

In the latest survey, the CEOs said the U.S. economy would grow 2.2% during 2016. That’s down from an expectation for a 2.4% advance this year recorded in the fourth-quarter poll. Gross domestic product increased 2.4% in 2015, according to the Commerce Department.

The survey points “to an economy that continues to lack momentum,” said Doug Oberhelman, CEO of Caterpillar Inc. and chairman of Business Roundtable.

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