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Conference Board: CEO Confidence Steady

The Conference Board Measure of CEO Confidence rose slightly in the second quarter of 2008 to 39, up from 38 in the first quarter. A reading of 50 indicates more positive than negative responses. "CEOs continue to rate current economic conditions as unfavorable, and their short-term expectations suggest this slow growth environment will exist for the remainder of the year," says Lynn Franco, director of The Conference Board Consumer Research Center. According to the study, fewer than 7 percent of CEOs stated that economic conditions have improved, with 9 percent claiming conditions are better in their own industries. Twenty-four percent of CEOs expect economic conditions to improve within the next six months, but only 20 percent anticipate an improvement in their own industries. Regarding profit expectations, 60 percent of surveyed CEOs anticipate increases, with market/demand growth cited as the most likely driver (49 percent), followed by price increases (23 percent), cost reductions (18 percent),  and technology (11 percent).

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