A survey of over 100 CEOs by The Conference Board finds their confidence in the U.S. economy dipped to 70% in the second quarter after surging to 73% in the first quarter of this year. However, the Board stressed a reading of over 50 reflects more positive than negative indicators.
The CEOs’ overall assessment of current conditions remained positive, holding steady at 78%. More than 90% of CEOs claim current economic conditions have improved, the same as last quarter.
In assessing their own industries, the measure edged up to 72 from 71. More than 70% said conditions are better now compared to six months ago, the Board’s survey found.
But in looking ahead to the next six months, CEO expectations are more subdued than last quarter, with their outlook for the economy dipping to 68 in second quarter from 72 in the first quarter. However, about 88% of the chief executives surveyed expect profits to rise, up from a year-ago reading of 65%.