The Conference Board, one of the most closely-watched assessors of economic mood swings, finds that CEOs remain optimistic, if only slightly more so than last quarter. And their assessment of current conditions has gone up a bit more.
The overall Conference Board Measure of CEO Confidence was up only one tick over last quarter, going from 63 to 64. But anything over 50 is an expression of confidence on this scale, so it was up above neutral and it remains above neutral.
Current condition assessment improved more significantly, rising from 68 to 75.
58% are looking for improvement in the economy within the next six months, a number that held steady since the previous quarter.
“The continued improvement in CEO confidence suggests further economic growth in 2010,” said Conference Board’s Lynn Franco. “However, short-term expectations do not suggest a significant strengthening in the pace of growth.”
RBR-TVBR observation: We like seeing consumer numbers go up, because it’s an indicator that they may be a bit more willing to pull out their wallets and do some spending. But CEO confidence is even better. Sure, like the rest of us, they may be whistling in the dark, but they also have a better understanding of the economic factors involved and thus a far more educated opinion.