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CEOs Confidence On Future Economic Conditions Increases

US

CEOs have become optimistic about "what’s ahead for the economy," according to a new measure from the Conference Board, which notes in a report: “…this is the first time optimism has prevailed in the Measure since Q1 2022."

  • The report states: “In the Q1 survey, 32% of CEOs reported general economic conditions to be better than they were six months ago, up from just 18% in Q4 of last year... Similarly, future expectations strengthened: 36% of CEOs in Q1 expect general economic conditions to improve over the next six months, up from 19% last quarter."
  • Roger W. Ferguson at The Conference Board said: “CEOs are feeling better about the economy, but remain cautious about risks ahead. In supplemental questions asked this quarter, CEOs overwhelmingly identified political uncertainty ahead of US elections (51%) as the greatest US challenge affecting businesses in 2024. Meanwhile, CEOs said the greatest global challenge affecting businesses this year is the spread of existing wars (46%). Deglobalization (19%) and US-China tensions (15%) were also concerns. On the positive side, CEOs cited reduced inflation (34%) and Federal Reserve interest rate cuts (28%) as top US developments that might benefit businesses.”

Figure 1: The Conference Board Measure of CEO Confidence

Source: Conference Board, Business Council. NBER

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