Industry News

CEOs more bullish on economy

Survey: Firms plan to hike prices by 3.3% in '07

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A key indicator that measures chief executives' confidence in the economy improved slightly in the fourth quarter, as the majority of businesses plan to raise prices for their goods and services this year, The Conference Board reported today. The Chief Executives' Confidence Measure, which had fallen to 44 in the third quarter of 2006, improved to 50 in the final quarter of 2006, according to The Conference Board's latest survey of nearly 100 business leaders in a wide range of industries. A reading of more than 50 points reflects more positive than negative responses. "The bounce-back in CEO confidence suggests further economic growth in the first half of 2007," said Lynn Franco, director of The Conference Board Consumer Research Center, in a statement. "However, there is little to suggest a significant strengthening or deterioration in the pace of growth. On the inflation front, CEOs anticipate price increases of about 3.3 percent for the year, slightly down from last year's esti...