The election of Donald Trump lifted CEO confidence in the U.S. to its highest level in two years, a new survey found, indicating expectations of tax cuts, rule relaxations and infrastructure spending may be outshining concerns about trade protectionism.
The global quarterly survey of 1,514 CEOs—including 638 in the U.S.—was conducted over the first two weeks of January by leadership peer group YPO. It found that American CEO confidence levels jumped 4.2 points to 64.6 from the previous quarter, outpacing a 3.0 rise globally to 62.2.
The timing of the survey, around two months after Trump’s election victory, meant respondents would have had plenty of time to digest the then president-elect’s policy priorities. To be sure, they were questioned before an inauguration speech that featured heavily on protectionist rhetoric and the recent bout of CEO resistence to Trump’s controversial immigration ban.
Conversely, Chief Executive’s February 2017 CEO Confidence Index’s overall rating is down slightly, after three months of increases following the election. In the CEO Confidence Index survey, CEOs are asked to rate their confidence in future business conditions 12 months from now on a scale of 1 to 10 with 10 being highest. In February, the first month after President Trump took office, CEOs gave an overall confidence rating of 6.99, compared with 6.54, 6.93 and 7.07 for November, December and January, respectively.
“After months of uncertainty in the run up to the presidential election, chief executives are feeling that the United States has a clear economic plan, based on a pro-business agenda,” Clear Summit Group managing director and YPO member Dan Monaghan said.
A clear majority (63%) of U.S. respondents to the YPO survey predicted that economic conditions would improve in the next six months, while just 7% expected them to deteriorate. That’s a significant improvement over the previous quarter, when just 33% saw conditions improving.
Confidence in the economic outlook translated to a more upbeat view on financial performance and investment, with 72% of U.S. YPO respondents expecting to increase revenue in the next 12 months and 43% forecasting a headcount increase over the same time period.
However, a recently-released global CEO survey by PwC found that while confidence is indeed rising, it’s edging up slowly and still remains well below high points reached in 2007.
Chief Executive Group exists to improve the performance of U.S. CEOs, senior executives and public-company directors, helping you grow your companies, build your communities and strengthen society. Learn more at chiefexecutivegroup.com.
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1:00 - 5:00 pm
Over 70% of Executives Surveyed Agree: Many Strategic Planning Efforts Lack Systematic Approach Tips for Enhancing Your Strategic Planning Process
Executives expressed frustration with their current strategic planning process. Issues include:
Steve Rutan and Denise Harrison have put together an afternoon workshop that will provide the tools you need to address these concerns. They have worked with hundreds of executives to develop a systematic approach that will enable your team to make better decisions during strategic planning. Steve and Denise will walk you through exercises for prioritizing your lists and steps that will reset and reinvigorate your process. This will be a hands-on workshop that will enable you to think about your business as you use the tools that are being presented. If you are ready for a Strategic Planning tune-up, select this workshop in your registration form. The additional fee of $695 will be added to your total.
2:00 - 5:00 pm
Female leaders face the same issues all leaders do, but they often face additional challenges too. In this peer session, we will facilitate a discussion of best practices and how to overcome common barriers to help women leaders be more effective within and outside their organizations.
Limited space available.
10:30 - 5:00 pm
General’s Retreat at Hermitage Golf Course
Sponsored by UBS
General’s Retreat, built in 1986 with architect Gary Roger Baird, has been voted the “Best Golf Course in Nashville” and is a “must play” when visiting the Nashville, Tennessee area. With the beautiful setting along the Cumberland River, golfers of all capabilities will thoroughly enjoy the golf, scenery and hospitality.
The golf outing fee includes transportation to and from the hotel, greens/cart fees, use of practice facilities, and boxed lunch. The bus will leave the hotel at 10:30 am for a noon shotgun start and return to the hotel after the cocktail reception following the completion of the round.
