CEO Confidence Wanes

CEOs have lost some confidence in the economy according to the latest poll by The Conference Board. The Conference Board Measure of CEO Confidence fell to 45 in the second quarter from 53 in the first quarter of 2007. A reading of more than 50 points reflects more positive than negative responses. “Several quarters of sluggish economic growth have taken a toll on CEOs’ confidence, erasing two quarters of improvement,” said Lynn Franco, director of The Conference Board Consumer Research Center in a statement releasing the results. “Looking ahead, CEOs do not expect a significant turnaround in conditions and profit expectations. Only a quarter expect profits to increase versus three quarters last year, reflecting their pessimistic outlook.”