US company chiefs push for budget deal Data appear to show that political turmoil has had little impact on real economic activity Chief executives of big US companies are warning that the country faces another year of sluggish growth, while expressing hope that a deal over the budget being discussed in Congress will kick-start the economic recovery. Jim McNerney, chief executive of Boeing and chairman of the Business Roundtable, said companies surveyed by the lobby group expected US growth to be only about 2.2 per cent next year, close to its rate for the past two years. But a budget deal would be a "catalyst" for faster growth, investment and job creation, he added. IN Industrial Goods His comments come as Congress is closing in on a deal that would remove some of the fiscal uncertainty that has afflicted the US economy in recent years. One Democratic aide close to the talks said: "It's definitely not a done deal and there are certainly ways this could fall apart but there's hope that they are moving closer together." The Boeing chief said the failure of Congress to agree a budget had created "a very uncertain environment for investment and other kinds of business-building activities." However, he added: "I'm convinced Washington sorting themselves out can provide the kind of incremental lift that will give businesses a more predictable environment in which to invest a lot of the cash that's on their balance sheets." Other US chief executives have expressed similar views, saying uncertainty over government spending, borrowing and taxes is holding back business investment and consumer spending. Ellen Kullman, chief executive of DuPont, the largest US chemicals company by market capitalisation, said: "I think people are holding back, waiting to see what's going to happen next quarter with the debt ceiling and the budget." She told the Financial Times: "Economists are pointing to stronger industrial production next year. If the US solves some of these issues, that could happen. But if it doesn't, it's going to be another year when we're going to be very cautious. After the last two to three years, I would tell you that the business community is still sitting on the sidelines, on your question. We're not overly investing, unless . . . it's a slam-dunk Andrew Liveris, chief executive, Dow Chemical Andrew Liveris, chief executive of Dow Chemical, said: "After the last two to three years, I would tell you that the business community is still sitting on the sidelines, on your question. We're not overly investing, unless . . . it's a slam-dunk. A bipartisan budget committee led by Paul Ryan, a House Republican, and Patty Murray, a Senate Democrat, could seal an agreement in the next few days to set funding levels for government agencies until September 2015. Such an agreement would ease the pain from "sequestration" - the automatic budget cuts that took effect in March - by replacing a portion of them with other spending reductions and revenue generated from higher fees for services, such as for airport security. It would also avert the threat of a new government shutdown. However, other sources of fiscal policy uncertainty remain. The deal will not raise the US debt limit, which will have to be lifted again in 2014 to avoid a new brush with default.