Chief Executive magazine's CEO Confidence Index reflects executive wariness of the economy. The monthly Index was stagnant in October, rising a slight 1.3 percent to 87.4.

The Business Condition Index rose 9.2 percent to 91.5, marking the largest percentage gain of the Confidence Index's sub-categories. This reflects executive expectations of economic improvement in the next quarter. The number of executives anticipating gradual growth rose more than 7 percent to 34.4 percent.

However, the Current Confidence Index, which measures executive confidence in present market conditions, dropped 10.9 percent to 56.2. This category considers current employment, capital spending, and economic conditions. A majority of executives - 76.8 percent - deemed current business conditions "bad."

The coming months may prove better for business, as the Future Confidence Index increased 5.5 percent to 108.5.