CEO Survey Shows Cautious Optimism as Sales, Hiring Increases Expected

(Industry Week – Steve Minter)

Business Roundtable second quarter survey shows less enthusiasm for capital expenditures

Some 79% of the United States’ top CEOs expect their company’s sales to increase in the next six months, according to the second quarter CEO Economic Outlook Survey released by the Business Roundtable June 23. The group also indicated an increase in employment, with the number expecting to hire in the coming months increasing from 29% last quarter to 39% this quarter.

But the new survey showed a slight pullback on capital spending, with 43% compared to 47% last quarter saying they will increase their capital spending in the United States and 50% expecting no change over the next six months. An independent study of the index showed that is has predictive power for forecasting GDP growth in both the quarter in which it is released and the next two quarters. Read more here.