CEO confidence edged up in the second quarter after declining in the first quarter. The Conference Board’s and PwC Network’s measure of CEO confidence rose to a level of 58 in the second quarter from 57 in the first quarter.

A reading of more than 50 reflects more positive than negative responses.

“Optimism among CEOs increased moderately in the second quarter with expectations for the US and globally slightly more upbeat,” said Lynn Franco, director of economic indicators at The Conference Board. “However, the outlook for China remains cautious while expectations for Brazil remain negative.”

Franco added: “More than two-thirds of CEOs expect profits will increase over the coming year, with market/demand growth and cost reductions the major driving forces.”

CEOs were less positive in their assessment of current economic conditions for the US and India, although overall sentiment remains in positive territory. Sentiment regarding Europe and Japan has shifted and is now more upbeat, but CEOs’ assessment of current conditions in China and Brazil has grown more pessimistic, and remains in negative territory.

Looking ahead, CEO expectations for the US and globally were more positive, but the outlook for China remains cautious and expectations for Brazil negative.