Bottom Line: For Q4 there was a 23.7 point drop in CEO confidence in the U.S. economy, down to 48.7 points. They cite an escalating credit crisis, and deepening recession as the cause for this darkened outlook. This is according to Vistage’s quarterly executive confidence index.

Some factors affecting confidence:

Economic Recovery

Three-in-five CEOs expect the economy to continue to worsen in the year ahead, twice as many as in the previous quarter. Only 10 percent of firms expect the economy to improve during 2009, while 61 percent do not expect a recovery to happen until 2010, and 28 percent in 2011 or later.

“Despite sagging executive confidence, CEOs are turning to Vistage for advice more now than ever before with Vistage CEO member inflow up nearly 13% since 2007,” said Pastor.

New Administration

When asked about their confidence in the Obama administration’s ability to improve the economy, 15 percent expressed a high level of confidence, 34 percent said medium, and 32 percent said low. Nineteen percent said their confidence was no more or less than it would be for any other incoming president. Nearly one third (31 percent) said increasing the availability of credit is one of the most important issues for small and mid-size businesses.

Hiring and Layoffs

One-third of all CEOs reported lay-offs in their companies in the past year, and an additional 32 percent anticipated fewer total employees by this time in 2009. While this is by far the worst job outlook since the introduction of the national index in 2003, more than a quarter of Main Street CEOS (27 percent) said they still intend to hire new employees in 2009.

Read More Statistics . . .

(Source)

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