CEOs Optimistic About Business Prospects

Chief executives’ optimism about their own business prospects outweighed a dimmer outlook for the U.S. economy, a survey showed. The Conference Board’s overall measure of business confidence rose to 53 during the first three months of this year, from 52 during the fourth quarter of 1999, fueled by confidence about business prospects. At the same time, a smaller number of CEOs believed current economic conditions are better now than they were six months ago, the survey said. But expectations for the coming six months remained low. “The expectations for the economy as a whole [are] flat,” said Lynn Franco, director of the research organization’s consumer research center. “That’s not alarming, considering how strong the fourth quarter came in.” The Conference Board said 28% of chief executives believed economic conditions were better in the first quarter, compared with 40% surveyed during the last three months of last year.