Washington, August 28: In what could be another shot in the arm for US presidential candidate Joe Biden, a survey found that 75 percent among the world's top executives predict him to defeat President Donald Trump in the November 3 election. The survey findings come in the backdrop of a consistent lead maintained by Biden in the opinion polls so far. 'Whatever Happens, Do Not Concede Defeat on the Night of November 3', Hillary Clinton's Advice to Joe Biden.

Three-fourth of the business leaders and executives, affiliated to the CNBC Global CFO Council, said Biden will emerge as a clear winner in the upcoming presidential polls -- that will feature the first high-stake electoral battle amid a recession in the last 40 years.

In 1948, when the American economy was hit by recession, then President Harry Truman had succeeded in his re-election bid. In 1980, however, the then incumbent head of state Jimmy Carter lost in an election in which the voters marked their angst against the prevailing economic conditions.

The executives who were part of the CNBC survey - 75 percent of whom predicted Biden to emerge as the next occupant of the White House - are leaders of companies that cumulatively manage more than $5 trillion in market value.

Their prediction holds significance as the economic fallout of COVID-19 is likely to emerge as a key deciding factor in the presidential battle. While the world economic is expected to shrink by 5.2 percent, the contract in the US for this fiscal is estimated at 6.1 percent.

A solace for Trump, amid a series of adverse opinion polls, remains the findings of another CNBC survey released on Wednesday, which showed that his standing has improved in the key swing states.

In Arizona, Florida, Michigan, North Carolina, Pennsylvania and Wisconsin, the approval rating of Trump has improved to 48 percent, up from 46 percent nearly a fortnight ago. According to the President's campaign committee, Trump's popularity will peak by mid-October.

(The above story first appeared on LatestLY on Aug 28, 2020 09:26 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).