CEO Confidence Low for First Half of 2009

New York, NY, Jan. 19, 2009--Severe economic problems have slashed the confidence of chief executives, and their confidence reached an all-time low in the fourth quarter, according to survey results released Friday by the Conference Board.

"The erosion in CEO confidence is a reflection of the rapid and severe deterioration in economic conditions experienced in the final months of 2008," said Lynn Franco, director of the Conference Board's Consumer Research Center.

"Looking ahead, CEOs remain extremely pessimistic about overall economic prospects in the first half of 2009."

Not one of the business leaders said conditions have improved, and only about 11% of respondents expect conditions to improve in the next six months, according to the survey. The Conference Board's measure of CEO confidence goes back to 1976 and includes about 100 business leaders.