CEOs Practice Cautious Optimism, Business Group Says

Jan. 13, 2005
By Pat Panchak The Conference Board's Measure of Business Confidence rebounded in the last quarter of 2002, but shows that chief executives of manufacturing companies are becoming less confident about the future of their industries than their service ...
ByPat Panchak The Conference Board's Measure of Business Confidence rebounded in the last quarter of 2002, but shows that chief executives of manufacturing companies are becoming less confident about the future of their industries than their service industry colleagues. The overall confidence rating, which had declined to 54 in the third quarter of 2002 rebounded to 58 in the final quarter. (A reading of more than 50 points reflects more positive than negative responses.) CEO's expectations for the economy in the next six months also advanced, rising to 63, from 60 in the third quarter. The findings suggest a level of cautious optimism, says Lynn Franco, director of The Conference Board's Consumer Research Center. "But the level of optimism does not suggest a dramatic acceleration in economic growth during the first half of 2003." CEO expectations for their own industries also were more upbeat overall, with The Conference Board measure improving to 59 from 58. A closer look, however, reveals that manufacturing executives' viewed their industries' future a bit more pessimistically. The manufacturers measure dropped to 50 from 64 in the second quarter, while the service industry's measure dropped to 59 from 64 during the same time frame. Food, Textiles and Apparel executives were the most pessimistic, with a measure of 33.

Popular Sponsored Recommendations

Empowering the Modern Workforce: The Power of Connected Worker Technologies

March 1, 2024
Explore real-world strategies to boost worker safety, collaboration, training, and productivity in manufacturing. Emphasizing Industry 4.0, we'll discuss digitalization and automation...

3 Best Practices to Create a Product-Centric Competitive Advantage with PRO.FILE PLM

Jan. 25, 2024
Gain insight on best practices and strategies you need to accelerate engineering change management and reduce time to market. Register now for your opportunity to accelerate your...

Transformative Capabilities for XaaS Models in Manufacturing

Feb. 14, 2024
The manufacturing sector is undergoing a pivotal shift toward "servitization," or enhancing product offerings with services and embracing a subscription model. This transition...

Shifting Your Business from Products to Service-Based Business Models: Generating Predictable Revenues

Oct. 27, 2023
Executive summary on a recent IndustryWeek-hosted webinar sponsored by SAP

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!