CEOs Express Decreased Confidence in Economy
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A survey by Business Rountable shows that American's top CEOs are less confident in the economy than they were a few months ago. Though the CEOs are still predicting economic growth in the United States, their predicted rates of growth have decreased. An article from Yahoo! News gives insight into why CEOs are less assured.
According to Yahoo! News:
Most chief executive officers of large U.S. companies expect higher sales and higher capital spending in the next six months, but their optimism about economic conditions and expectations for growth are more muted than three months ago, according to a quarterly survey.
The survey by Business Roundtable, an association of U.S. CEOs, found 51 percent expected to add U.S. jobs in the second half of the year, while 61 percent would boost capital spending. Both measures are down slightly from the previous quarter.
Overall, the Roundtable's index of executives' economic outlook dipped to 109.9 from a record high of 113 in the first quarter. The index turned negative in the first quarter of 2009 but then rebounded in subsequent quarters, eventually passing its 2005 peak earlier this year.
Expectations for economic growth also dipped in the latest survey. CEOs now predict the U.S. economy will grow by 2.8 percent this year, down from a forecast of 2.9 percent growth three months ago.
In light of our current economic situation, we at Free Enterprise want to help. We are launching the Voices For Jobs Listening Tour and would love for you to get involved so we can understand your point of view. Learn more here!