CEOs More Confident as Fourth Quarter Begins

Dallas, TX, Nov. 9, 2010 -- Confidence among U.S. CEOs improved at the beginning of the fourth quarter, according to a survey by the non-profit Young Presidents' Organization.

The group's measure of sentiment rose to 59.9 in October from 57.5 in July. A reading greater than 50 shows indicates the outlook was more positive than negative.

Nearly half CEOs said they expect economic conditions to be better in six months, while 60% said sales will be higher in the coming year.

The outlook for corporate investment also improved, with 38% expecting to spend more in the next 12 months.

“Particularly encouraging was the improvement in hiring expectations, the brightest outlook yet for fixed investment, and the first signs of improvement we’ve seen in the construction sector since YPO began the survey,” said David Maney, spokesman for the survey, in a press release.

Thirty-six percent of leaders surveyed said they plan to expand hiring, compared with 30% in the last survey.