CEO Confidence Slips

August 13, 2010 at 10:32 am Leave a comment

Chief Executive magazine’s CEO Confidence Index, the nation’s only monthly CEO Confidence Index, fell one-third (33.2%) in July, to 79.8.

All five components of the index fell significantly, with the Current Confidence Index showing the largest percentage decrease of 60.4% — dropping to 52.0. One CEO stated, “Not much confidence anywhere right now… most people are in a “hunker-down” mode”. Wayne Gorel, CEO, Gorell Enterprises, blames the media for contributing to the continued economic woes, “The media is saying how terrible things are, and the consumer is starting to believe them again. Things were starting to improve until this blitz about how we may be going into a double dip recession or even a depression like one headline story [stated] this week. The economy is growing at 3-4%, not great, but much better than last year. I just wish the media would get out of the way.”

The Investment Confidence Index fell by 40.8% to 79.0. Fully 24% more CEOs rated investment opportunities as “bad” in July than in June. One CEO lamented, “New ventures and new venture funding are basically non-existent”.

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Entry filed under: CEO Confidence Index. Tags: , , .

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