U.S. Chief Executives Less Confident on Economy, Survey Shows
Confidence among U.S. chief executive officers declined in the second quarter as more business leaders said economic conditions will worsen in the next six months, a private survey showed.
The Young Presidents’ Organization sentiment index fell to 60 in the second quarter from 65.1 in previous three months, the largest decline since the survey began in 2009. Readings greater than 50 show the outlook was more positive than negative.
“High gas prices, ongoing woes in Europe, and reduced growth in Asia, China in particular, no doubt dampened CEO optimism in the latest survey,” Stephen Slifer, YPO Global Pulse economic adviser and chief economist at NumberNomics, said in a statement. “The results seem to be pointing toward slower growth ahead and not a global contraction.”