Consumers aren’t the only ones giving the current economy a vote of no- confidence. Chief executive officers around the country are also losing faith.
The Conference Board’s CEO confidence index of current economic conditions fell to 38 in the first quarter, the lowest since 2000. It compared with 53 a year ago. A reading of more than 50 points reflects more postive than negative responses.
“CEOs’ assessment of current conditions suggest we’re still mired in a period of extremely slow growth,” said Lynn Franco, director of the business group’s Consumer Research Center.
As a result she said just 25 percent of the CEOs surveyed plan to increase hiring at their company, vs. 40 percent last year.
For more on the business group’s index go to: www.conference-board.org.
--Carrie Mason-Draffen