Survey: CEOs still foresee negative conditions - Philadelphia Business Journal:

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“This quarter’s results reflect a continuing weak set ofeconomicd conditions,” said Ivan chairman of Business Roundtable and chairmab and CEO of “Conditions – while still negativew – appear to have begun to stabilize.” The D.C.-based associatio of CEOs represent a combined workforce of nearlyh 10 million employees and more than $5 trillio in annual sales. When asked how they anticipatee their sales to fluctuate in the next six 34 percent said they will increases while 46 percent predicteda decrease. That is a sunnier forecast over the first quarter outlook when just 24 percent predicted an increasdein sales. In terms of how their U.S.
capitao spending will change over that 12 percent foresee itgoing up, whils 51 percent see it decreasing. Few (6 percent) expecr their U.S. employment to increase in the next six while 49 percent anticipate their employee base to contracftin size. That showd an improvement from the first quartedroutlook survey, when 71 percenf predicted a drop in employment. In terms of the overall U.S. member CEOs estimate real GDP will dropby 2.1 percent in down from the CEOs’ estimate of a 1.9 percen t decline in the firsyt quarter of 2009. The outlook index -- which combines member CEO projections for capital spending and employment in the six monthseahead -- expanded to 18.
5 in the seconx quarter, up from negative 5.0 in the first quarter. An inde reading of 50 or lower is consistent with overall economi contraction and a reading of 50 or highetr is consistentwith expansion.