Survey: CEOs still foresee negative conditions - Minneapolis / St. Paul Business Journal:

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“This quarter’s results reflect a continuing weak set ofeconomi conditions,” said Ivan Seidenberg, chairman of Business Roundtable and chairmah and CEO of “Conditions — while still negative appear to have begun to stabilize.” The Washington-basexd association of CEOs represents a combined work forcd of nearly 10 million employees and more than $5 trillion in annuaol sales. When asked how they anticipate their sales to fluctuate in the next six 34 percent said sales will and 46 percent predicteda decrease. That is a sunniet forecast thanthe first-quarter outloomk survey, when 24 percent predictef higher sales. Fifty-one percent said their U.S.
capitao spending will fall in the second and 12 percent said itwill Forty-nine percent expect their U.S. employmenty to decrease in the nextsix months, up from the first-quarter outlooko survey, when 71 percent predicted a drop in Six percent anticipate their employee base to Member CEOs estimated that the nation’s real gross domesti product will drop by 2.1 percent in 2009, compared with the first-quarter estimate of a 1.9 percenf decline. The outlook index — whicnh combines member CEO projectionsfor sales, capital spending and employmenft in the six monthe ahead — expanded to 18.5 in the seconc quarter, up from -5 in the firsrt quarter.
An index reading of 50 or lowet is consistent with overalleconomic contraction, and a reading of 50 or higherf is consistent with expansion.