The Conference Board Measure of CEO Confidence did not change in the second quarter of 2010. The index had dropped during the first quarter of the year, and now stands at 62.
"CEOs' confidence held steady in the second quarter and expectations signal no change in the pace of economic growth in the coming months," said Lynn Franco, director of The Conference Board Consumer Research Center. "The outlook for corporate profits remains optimistic, with almost half saying market/demand growth will be the principal driving force."
Sixty-seven percent of CEOs said economic conditions have improved compared to six months ago, a drop from 71 percent last quarter. But 61 percent said conditions in their own industries were better, an increase from 59 percent.
CEOs seem to be more cautious, with 48 percent saying the economy will improve over the next six months, a drop from 52 percent last quarter. Nearly three-quarters expect profits to rise over the next year, with those in the durable goods industry most optimistic. Nearly half of CEOs said market and demand growth will lead the profit rise.