Industry News

CEOs less bullish on economy in Q3

Survey: Lower sales impact companies' spending plans

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A key indicator that measures chief executives' confidence in the economy dropped again in the third quarter of 2007, as current business conditions continued to cast a dreary mood across many industries, The Conference Board reported today. The Conference Board Measure of CEO Confidence, which had declined to 45 in the second quarter of 2007, edged down to 44 in the third quarter, according to a 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. CEOs' assessment of current economic conditions was less favorable in the third quarter, with just 14 percent claiming economic conditions had improved, down from 23 percent in the second quarter of 2007. In assessing their own industries, business leaders were also less optimistic, with approximately 17 percent claiming conditions are better, down from approximately 23 percent in the first quarter of 2007. "Despite the rather bleak assessment of...