CEOs getting more pessimistic
From a poll conducted by the Young Presidents' Organization:
American CEOs responding to the YPO Global Pulse economic sentiment survey during the first two weeks of July 2010 expressed weakened confidence about the outlook for their sales and employment levels and the overall business climate compared with the April survey, driving a 3.5-point drop in the U.S. CEO Confidence Index to 57.5 from 61.0 in April. This was the first downturn in the YPO U.S. Index in the five quarters since the survey’s launch 12 months ago. ...
Looking to the future, the percentage of CEOs bullish about their company’s sales outlook declined in July compared with the April survey. The percentage of respondents expecting sales increases of 10% or more over the coming 12 months fell from 69% in April to 57% in July, while the percentage of those expecting sales to remain about the same grew from 26% to 35%.
A solid majority (62%) expects their employee count to be about the same a year from now as it is today. This is a slight increase from 58% in April. The percentage of CEOs expecting to increase their staff by 10% or more declined to 30% from 36% three months earlier.
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