Industry News

CEOs lose confidence in economy

Fewer execs see improvement in coming months

Learn the New Luxury Playbook at Luxury Connect | October 18-19 at the Beverly Hills Hotel

Chief executives across the United States are less confident about the state of the economy now than they were in the first quarter of this year, The Conference Board reported Thursday in its latest survey of CEOs. The CEO Confidence Measure fell to 55 in the second quarter, after registering 62 in the first quarter of this year. A reading of more than 50 points reflects more positive than negative responses. "While overall confidence remains relatively positive, the latest reading reflects growing concerns that U.S. economic growth may be slowing down," said Lynn Franco, director of The Conference Board's Consumer Research Center. "And, while the outlook for corporate profits remains optimistic, rising interest rates and oil prices may curb business leaders' projections." CEOs' assessment of current conditions deteriorated over the last quarter. Approximately 44 percent of CEOs claim current economic conditions have improved, down from nearly 59 percent last quarter. In assessing...