NEW YORK - Chief executives’ confidence in the nation’s economy held steady in the second quarter of 2010, as the Conference Board Measure of CEO Confidence remained 62.
The measure is based on quarterly surveys of more than 100 chief executives of U.S. industries. A reading of more than 50 reflects 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," said Conference Board Consumer Research Center Director Lynn Franco. "The outlook for corporate profits remains optimistic, with almost half saying market/demand growth will be the principal driving force."
CEOs’ assessment of current economic conditions is slightly less favorable, with 67% stating conditions have improved compared to six months ago, down from 71% last quarter. However, in assessing their own industries, business leaders’ attitudes improved, with 61% claiming conditions are now better, compared with 59% last quarter.
Looking ahead six months, CEOs are slightly less optimistic. Approximately 48% of business leaders expect economic conditions to improve in the next six months, down from 52% last quarter. Expectations for their own industries are mildly more optimistic, with 43% of CEOs anticipating an improvement in the months ahead, up from 42% last quarter.
