The CEO Confidence Index from Chief Executive magazine showed a slight up-tick in January. Corpoate chiefs are still very cautious on labor conditions, and this index was just at another all-time low the month before. But the reading is above the all-time lows. Sometimes the criteria for good news is different from normal.
The index rose 10.3 points to 51.2 points in January. The EmploymentConfidence Index rose from 22 to 35.3 points, and the BusinessCondition Index rose to 27 points from 16.8 last month.
Edward M. Kopko, CEO and Publisher of Chief Executive magazine said,"While the recent uptick is encouraging, it does not imply that CEOshave started to gain confidence…. The low reading of the employmentconfidence…. is suggestive of a continued poor labor market over thecoming months."
It also appears that many CEOs believe they will come out ahead if theycan use the current environment to their advantage. The magazine reaches about 42,000 CEOs and has a readership of 220,000. This survey was based upon 543respondents.
Keep in mind that this is a different group than the CEO Roundtable.
Jon C. Ogg
February 5, 2009
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