CEOs Expectations Dampen, Business Roundtable Reports
"Sales forecasts are down from last quarter, prompting CEOs to remain cautious," said Ivan G. Seidenberg, chairman of Business Roundtable and chairman and CEO of Verizon Communications. "However, they are preparing for future demand by increasing investment in capital."
Sixty-six percent of CEOs surveyed expected company sales to increase in the next six months, compared to 79 percent who said the same during the second quarter survey. And 31 percent expected to hire workers, compared to 39 percent who reported hiring plans in the second quarter. Still, 49 percent expected to increase capital spending in the next six months, compared to 43 percent of CEOs who made such reports in the second quarter.
When questioned about the overall U.S. economy, CEOs said real GDP would grow 1.9 percent in 2010, a significant drop from the 2.7 percent increase they anticipated in the second quarter survey.
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