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A new survey by the Conference Board finds most executives think a recession is looming or already here due to the national economic outlook.

More than 60% of CEOs expect a recession in their geographic region in the next 12 to 18 months, according to the of survey of 750 CEOs and other C-suite executives, which was released Friday.

Another 15% believe the region where their company operates is already in a recession and 43.3% think there will be a recession by the end of 2022.

Another 17.8% predict a recession by the end of 2023.

Only 19.1% of CEOs in the survey said they don’t expect a recession in the next 2-3 years.