Conference Board Says CEO Confidence Rising

Washington, DC, Oct. 12, 2009--The Conference Board Measure of CEO Confidence, continued to rise in the third quarter and was the third consecutive increase.

The Measure now stands at 63, up from 55 in the previous quarter (a reading of more than 50 points reflects more positive than negative responses).

"CEOs have grown considerably more optimistic in their short-term outlook," says Lynn Franco, director of The Conference Board Consumer Research Center.

"Although nearly 60 percent say they've scaled back capital spending plans since January, growing optimism over the past several quarters should translate into increased spending in 2010."

CEOs' assessment of current economic conditions was much more optimistic, with 68 percent stating conditions had improved compared to six months ago, up from 32 percent last quarter.

In assessing their own industries, business leaders were also considerably more positive. Currently, 55 percent claim conditions are better, up from 24 percent last quarter

Looking ahead six months, CEOs are more optimistic than last quarter. About 58 percent expect economic conditions to improve in the next six months, up from about 55 percent last quarter.