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CEO confidence decreased in the second quarter of 2012 after rising in the first quarter, The Conference Board reported today. The organization’s measure of CEO confidence fell to a reading of 47 in the second quarter of 2012 from a reading of 63 in the first quarter. A reading of more than 50 points reflects more positive than negative responses.
“CEOs began the year quite upbeat, but the lackluster performance of the economy so far, and expectations of more of the same, have clearly impacted attitudes,” said Lynn Franco, director of economic indicators at The Conference Board. “On a positive note, CEOs remain confident profits will continue to increase, driven primarily by market/demand growth.”
Only 17 percent of CEOs said conditions have improved compared to six months ago, down from 67 percent who said the same in the last quarter, according to a survey that accompanied the measure. Only 20 percent of CEOs anticipate an improvement in economic conditions over the next six months, down from 59 percent who said the same in the fourth quarter.