Report Shows US Business Leaders Optimistic

Published by: Dave Simmons on 30th Mar 2011 | View all blogs by Dave Simmons
Report Shows US Business Leaders Optimistic

The Business Roundtable released its quarterly survey of the nation's top chief executives' confidence in the economy Wednesday.  The respondents expressed intentions of expanding hiring over the next six months, as their expectations for growth in the overall economy have expanded since the last survey.

According to the survey, top CEOs expect the nation's economy to expand by 2.9 percent, on average, improved from a previous forecast expecting 2.5 percent growth.  The CEO survey is pretty much in line with the expectations of economists in other surveys.

The roundtable's economic outlook index also climbed from 101 in the fourth quarter of 2010 to 113.  It was the highest level reported for the index since the group started conducting the survey in 2002.  The Roundtable represents companies with a combined $6 trillion in average annual sales and payrolls exceeding 12 million employees.

About 52 percent of the 142 CEO surveyed expressed plans to hire more workers over the next six months, an all-time high for the survey and up from 45 percent last quarter.  Furthermore, about 92 percent of respondents said they believe sales will increase in the next six months, compared to just 80 percent in the prior quarter.  Not one of the executives said they believe sales will decline.

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