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. (A 9-10 rating is excellent, while a 1-2 rating is poor.)
While the CEO Confidence Index increased 0.20 points in September, from 5.70 to 5.90, the flat rating in October is also a good sign, showing that the turnaround is remaining steady.
However, signs of progress will likely be slow, since 43.7% of CEO respondents are still projecting a less than 10% revenue growth over the next 12 months and a third expect the same for profits.
The number of CEOs who anticipate growth higher than 20% (12 months from now) in revenue, employees, capital expenditures or profit all remain in the single digits.