CEO Confidence Flat at 62 In 2Q: Conference Board

Confidence in the nation’s economy among chief executive officers was unchanged in the second quarter of 2010, as the Conference Board measure of CEO confidence held steady at 62.

The measure is based on quarterly surveys of more than 100 U.S. chief executives. Readings above 50 reflect more positive than negative responses.

“CEOs’ confidence held steady in the second quarter and expectations signal no change in the pace of economic growth in the coming months,” Conference Board Consumer Research Center director Lynn Franco said Monday. “The outlook for corporate profits remains optimistic, with almost half saying market/demand growth will be the principal driving force.”

CEO assessments of current economic conditions were slightly less favorable, with 67% stating conditions had improved from six months ago, down from 71% last quarter. However, views of their own industries were more optimistic, with 61% of business leaders claiming conditions were better, compared with 59% last quarter.

Looking ahead six months, CEOs were slightly less optimistic. The percentage expecting improved business conditions during the next six months diminished to 48% from 52% last quarter. Expectations for their own industries were more favorable, with 43% of CEOs anticipating an improvement in the months ahead, up from 42% last quarter.

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