New York, NY, March 21, 2006-- A strong outlook for jobs lifted confidence among chief executives this month, but concerns about government deficits are weighing on CEOs' outlook for the future, according to a monthly survey reported in Chief Executive magazine.
An index of CEO confidence compiled by the magazine rose to 175.6 in March, up 3.1 points from February but 6.8 points below the record high reached in January, the survey found.
More than half the 193 executives surveyed said current employment conditions were good, the highest proportion of CEOs who said so since 2002.
But the magazine reported a record gap between its current conditions index and one measuring CEOs' outlook for the future.
Though both indexes rose this month, growth in the future conditions index has been much slower over the past 10 months, reflecting concerns about U.S. government deficits, the magazine said.
Executives dislike the combination of lower tax revenues and higher spending that has widened the federal budget gap, according to the magazine.
Separately, the survey found that a large majority of CEOs --90 percent-- would prefer to run their companies privately, with less focus on quarterly results and less regulatory scrutiny.
CEOs who run public companies should be paid, on average, 54 percent more, executives told the survey.
