Confidence Suffers Again
CEO CONFIDENCE INDEX
CONTINUING a fall for the third month straight, Chief Executive's CEO Confidence Index dropped by 4.7 points to 157.9, according to 255 top executives surveyed this month. The drop, while not huge, continues a marked fall from May, when the leading economic indicator stood at 210.6. One CEO respondent, David Schmidtof Scan Health Plans noted, "[the] Economy seems to be in a holding pattern waiting for something to happen-either positively or negatively."
Chief Executive also compiles subindexes by combining the six questions that make up the index in various ways. All of these component indexes fell except the Investment Confidence Index, which rose by 2.3 points to 134.1. Over 43 percent of respondents said they expected to increase capital spending at their company over the next quarter.
The Employment Confidence Index led the pack of losses this month, falling by 10.2 points. It currently rests at 171.3. Almost 10 percent (9.4 percent) of respondents said they would characterize current employment conditions as "bad," and 17.6 percent of respondents said they expect employment to decrease over the next quarter.
This month, Chief Executive also conducted additional polling to discover personal characteristics about the men and women who lead the economy. They were asked to list their favorite book, their favorite activity for relaxation and their advice to the next generation of young entrepreneurs. …