CEOs ‘Feeling Grim’ on Current Conditions, More Optimistic Toward Next 6 Months
CEO confidence improved to a score of 44 in Q2 from 34 in Q1, reported the Conference Board Thursday. A grade of more than 50 points reflects more positive than negative responses, it said. Canvassing for the Q2 survey was…
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done mid-May through mid-June. “Amid historic unemployment, business growth challenges, a weak economic environment, and a pandemic that persists, it comes as no surprise that CEOs feel grim about the current lay of the land,” said the board. Only 10% said conditions are better than six months ago, though that was up from 5% in Q1, it said. Slightly more than 80% percent of CEOs said conditions are worse in their own industries, down from 92% last quarter, it said. Despite feeling bleak about the present, CEOs were more optimistic than in Q1 about the economic outlook for the next six months, it said. In Q2, 71% said they expect economic conditions to improve, compared with 50% last quarter, it said. Only 16% said they expect economic conditions will worsen, down from 44% in Q1.