Business Roundtable Releases Third Quarter 2011 CEO Economic Outlook
Expectations for sales, capital spending and employment decline.
The Business Roundtable CEO Economic Outlook Index is based on a survey — conducted quarterly since the fourth quarter of 2002 — of our member CEOs’ plans for hiring and capital spending, and their expectations for sales, over the next six months. Taking these factors together, the survey signals the direction of the U.S. economy.
Washington – Business Roundtable’s third quarter 2011 CEO Economic Outlook Survey results show a drop from strong first- and second-quarter levels in anticipated sales, capital expenditures and employment over the next six months.
“The findings of this survey show declines in each category of economic measurement,” said Jim McNerney, Chairman of Business Roundtable and Chairman, President and CEO of The Boeing Company. “While we see strong business fundamentals in America still, the quarterly survey results reflect increased uncertainty among CEOs concerning the economic climate and business environment.”
The survey’s key findings from this quarter and the second quarter of 2011 include:
In terms of the overall U.S. economy, member CEOs estimate real GDP will grow by 1.8 percent in 2011, a decrease from the 2.8 percent projected in the second quarter of 2011.
Third Quarter 2011 CEO Economic Outlook Survey Index
The Business Roundtable CEO Economic Outlook Survey Index decreased to 77.6 in the third quarter of 2011, from 109.9 in the second quarter of 2011.
Business Roundtable’s CEO Economic Outlook Survey, conducted quarterly since the fourth quarter of 2002, provides a forward-looking view of the economy by Business Roundtable member CEOs.
The survey was completed between August 29 and September 16 and responses were received from 140 member CEOs. The percentages in some categories may not equal 100 due to rounding.