A private survey has revealed that leaders in the corporate community have less confidence in the economy for the second half as a result of deteriorating economic reports over the last few months. Sentiment measured in the Young Presidents Organization (YPO) fell to a reading of 60 in the second quarter from 65.1 during the first quarter of the year.
This Website Is For Financial Professionals Only
It’s the largest pullback in confidence since 2009 when the survey was first conducted. Only 37% said the economy had improved in the second quarter. Sixty percent said it had improved during the first quarter of the year.
The YPO is based in Dallas and has a less optimistic outlook for sales and hiring, as well. The reading in the first quarter for sales was an optimistic 71; it has now fallen to 66.7. Its employment index now reads 59.1 from 61.6 during the first quarter.
Sentiment in the US dropped more in the latest survey than the rest of the nine global regions. The survey’s respondents included 1659 global corporate leaders with 664 of those in the US. The sentiment of CEOs
in Europe had the lowest reading of the nine.