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4/8/09

CBC News: CEOs have no confidence in U.S. economy: survey

For the complete report from CBC News click on this link

CEOs have no confidence in U.S. economy: survey

U.S. CEOs say their companies face no prospect for financial recovery in the next six months, according to a new survey of executive sentiment released Tuesday. The Washington-based Business Round-table said its first quarter poll of American executives' feelings about their firms' fortunes during the next six months tumbled to a reading of negative five. That figure — which measures the CEO prospects in terms of higher sales, employment and capital spending — is the lowest result since the organization of chief executive officers began taking the temperature of its members in 2002. By comparison, the sentiment measure peaked at 101.7 in the fourth quarter of 2004.

Note EU-Digest: US President Barack Obama benefits from a broadly held perception that others bear the bulk of responsibility for the state of the US economy, according to a Washington Post/ABC News poll published on Tuesday. Asked who was responsible for the economic meltdown, 80 percent in the poll blamed banks, financial institutions and corporations. Some 70 percent also blamed consumers for taking on too much debt and the former Bush administration for lax regulation. Only 26 percent said the Obama administration was not doing enough to turn the situation around.

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