After taking a slight step backward in February, CEO confidence ratings surged in March, to 7.41, up 6.0% from 6.99 in February, and up 4.8% from 7.07 in January.
CEO confidence dropped a nominal 1.1% in February 2017 after a three-month rise.
January 2017 marked the third straight month that CEO confidence rose after a year of record lows.
CEOs are clearly excited about the prospect of the president-elect taking office on Jan. 20. After a 10.8% jump in November, their confidence in future business conditions 12 months from now increased another 5.9% in December.
CEO confidence in business conditions 12 months from now remained flat in October, registering a 5.90 on a scale of 1 to 10, compared with the same rating for September.
It’s not surprising that large companies (+$1 billion) have the weakest view of future business conditions (12 months from now), according to our latest CEO Confidence Index.
Between the UK’s Brexit vote, the upcoming U.S. presidential election, ongoing terrorism attacks and other global issues, it appears that CEOs are voicing more skepticism about future business conditions today than they had in previous months.
The closer we come to the election, the more skittish CEOs become about future business.
CEOs are cautious about future business expectations and appear to be in 'wait and see' mode.
Good news: Manufacturing CEOs feel that business conditions are improving.