3Q CEO Confidence Dips, Conference Board Says

A measure of chief executive officers’ confidence declined slightly in the third quarter from the second, the New York-based Conference Board said Friday.

The CEO survey’s reading declined to 44 from 45 in the previous quarter, the group said. Readings of more than 50 reflect more positive than negative responses. The survey includes about 100 business leaders in a wide range of industries.

“Despite the rather bleak assessment of current conditions, CEOs are not as pessimistic in their short-term outlook,” said Lynn Franco, director of the board’s consumer research center.

“But although the outlook is somewhat brighter than last quarter, the pace of growth is likely to remain moderate in the months ahead,” she said in a statement.

CEOs’ assessment of current economic conditions was less favorable, with 14% claiming economic conditions had improved, down from 23% in the second quarter.

In assessing their own industries, business leaders were also less optimistic. About 17% said conditions were better, down from 23% previously.