CNBC’s Steve Liesman joins ‘Squawk Box’ to break down the findings from an important new survey conducted by the National Association for Business Economics on the nation’s economic outlook. For access to live and exclusive video from CNBC subscribe to CNBC PRO: 

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According to a recent survey conducted by the National Association for Business Economics (NABE), businesses in the United States are seeing lower odds of the country experiencing a recession in the near future, or even entering one. This survey provides a positive outlook for the economy and offers some relief amidst ongoing uncertainty in the global financial markets.

The NABE survey, which includes responses from over 100 economists and executives from various industries, revealed that 74% of the respondents believe that the U.S. economy will continue its expansion throughout 2020. Furthermore, only 2% of the participants expect a recession to hit this year, down from the 10% of respondents in the previous survey.

These findings reflect a more optimistic sentiment among businesses, suggesting that concerns over a potential economic downturn have significantly subsided. The survey also indicates that businesses are becoming more confident in the stability of the U.S. economy, which may lead to increased investment and spending, further stimulating economic growth.

Several factors have contributed to this more positive outlook. The signing of the Phase One trade deal between the U.S. and China has eased trade tensions and provided a sense of stability, reducing the risk of a damaging trade war. Additionally, the Federal Reserve’s decision to cut interest rates three times in 2019 has boosted business confidence and provided support to the economy.

While the survey suggests an overall positive outlook, it is important to note that risks to the economy remain. Concerns such as the outbreak of the novel coronavirus, geopolitical tensions, and an impending presidential election add a degree of uncertainty that could potentially impact business sentiment and economic stability.

However, the NABE survey does provide some reassurance that the U.S. is well-positioned to weather these challenges. The continued strength of the labor market, with low unemployment rates and steady wage growth, has contributed to consumer confidence and spending, which is a significant driver of economic growth.

Furthermore, the survey highlights that a significant number of businesses expect an increase in their investment spending this year. This suggests that companies are optimistic about future prospects, willing to invest in capital expansion, and ultimately contribute to the expansion of the economy.

In conclusion, the NABE survey provides a positive outlook for the U.S. economy, with businesses seeing lower odds of the country entering or experiencing a recession in the near term. While uncertainties persist, such as the novel coronavirus outbreak and geopolitical tensions, the overall sentiment reflects increased confidence and a favorable economic landscape. This survey might serve as encouragement for businesses to continue investing and paving the way for sustained economic growth in the months to come.