The outlook for the U.S. economy among financial decision-makers improved somewhat in the third quarter of 2025, as uncertainty declined. However, concerns about the impact of tariffs on prices and business performance continued to weigh on firms.

• When asked between Aug. 18 and Sept. 5 to rate optimism about the overall U.S. economy on a scale from 0 to 100, the average rating from CFOs was 62.9, a jump from 60.9 in the second quarter of the year.