CEOs Lacking Confidence
NEW YORK, Oct. 9, 2013 /PRNewswire/ -- The Conference Board and PwC Measure of CEO Confidence™, which had increased in the second quarter, pulled back in the third quarter of 2013. The Measure now reads 54, down from 62 in Q2 2013 (a reading of more than 50 points reflects more positive than negative responses).
"CEO confidence declined in the third quarter as increasing uncertainty about the short-term outlook prevailed," said Lynn Franco, Director of Economic Indicators at The Conference Board. "Expectations for growth in both India and Brazil deteriorated significantly, while the outlook for the U.S., Japan and China, despite less upbeat, on balance remained positive."
CEOs' assessment of current economic conditions declined considerably. Only 33 percent claim conditions are better compared to six months ago, down from 60 percent in the second quarter. Business leaders are also less positive about conditions in their own industries. Approximately 32 percent say conditions in their own industries have improved, down from 40 percent last quarter.
CEOs' short-term outlook also retreated from last quarter. Currently, 42 percent of business leaders expect economic conditions to improve over the next six months, down from 60 percent in the second quarter. Expectations for their own industries are also more tepid, with just 34 percent of CEOs anticipating an improvement in conditions in the months ahead, down from 53 percent last quarter.
CEOs were more positive in their assessment of current economic conditions in Europe than last quarter, while sentiment was less favorable for the United States, China and Japan. CEOs' sentiment regarding current conditions in India and Brazil has turned pessimistic compared to last quarter.
Expectations over the next six months were considerably more positive for Europe, while all other regions experienced declines. Expectations for India and Brazil deteriorated significantly and are quite negative. The short-term outlook for the U.S., Japan and China, despite declining, on balance remains positive.
Survey results were fielded from mid-August to mid-September
Source: CEO Confidence Survey 3rd Quarter 2013
The Conference Board
About the PwC Network
PwC firms help organizations and individuals create the value they're looking for. We're a network of firms in 158 countries with more than 180,000 people who are committed to delivering quality in assurance, tax and advisory services. Tell us what matters to you and find out more by visiting us at www.pwc.com.
© 2013 PricewaterhouseCoopers LLP, a Delaware limited liability partnership. All rights reserved. PwC refers to the United States member firm, and may sometimes refer to the PwC network. Each member firm is a separate legal entity. Please see www.pwc.com/structure for further details. This content is for general information purposes only, and should not be used as a substitute for consultation with professional advisors.
About The Conference Board
The Conference Board is a global, independent business membership and research association working in the public interest. Our mission is unique: To provide the world's leading organizations with the practical knowledge they need to improve their performance and better serve society. The Conference Board is a non-advocacy, not-for-profit entity holding 501 (c) (3) tax-exempt status in the United States. www.conference-board.org
SOURCE The Conference Board
More by this Source
Inflation Declined in Most Advanced Economies
Mar 06, 2014, 10:00 ET
Online Labor Demand Up 268,100 in February
Mar 05, 2014, 10:00 ET
Browse our custom packages or build your own to meet your unique communications needs.
Learn about PR Newswire services
Request more information about PR Newswire products and services or call us at (888) 776-0942.