Daily News: March 29, 2012

U.S. CEO Expectations Increase ‘Notably’ in Q1

The results of Business Roundtable’s (BRT) first quarter CEO Economic Outlook Survey for 2012 show an upturn in expectations for sales, capital spending and hiring for the next six months.

The BRT Economic Outlook Index, a composite of CEO expectations for the next six months of sales, capital spending and employment, increased notably to 96.9 in the first quarter of 2012, from 77.9 in the fourth quarter of 2011.

In terms of the overall economy, BRT members estimate real GDP will grow by 2.3% in 2012, up from last quarter’s estimate of 2.0.

“The BRT survey results indicate greater overall economic optimism among member CEOs compared to last quarter,” said Jim McNerney, chairman of Business Roundtable and chairman, president and CEO of The Boeing Company. “Several factors, among them oil prices, a sluggish European economy, political uncertainty in the United States, and questions about future growth in Asia, remain as potential obstacles to higher rates of economic growth in the United States.”

To read the Business Roundtable Survey results, click here.