Heartened CEOs see better economic times ahead, survey says

The Conference Board Measure of CEO Confidence in regard to economic conditions improved during the second quarter, jumping to 55, from 30 the previous quarter. A reading of more than 50 points reflects more positive than negative responses. The index is based on a survey of about 100 business leaders in a wide range of industries nationwide. Of those surveyed, 32% felt conditions had improved from six months earlier, up from 0% during the first quarter. And close to 55% of CEOs expected conditions to improve in the next six months, up from 17% in the last quarter. Among those that expected an increase in profits, 56% said the reason was cost reductions, 33% gave credit to market demand and growth, 7% cited new technology, and 4% they were due to price increases. The survey, by The Conference Board Inc., a business membership and research network in New York, was conducted from mid-May to mid-June.