CEOs Downgrade Their Business Outlook, Survey Says

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igh energy prices, a lack of pricing power and a steady rise in interest rates have contributed to reduced business optimism among chief executive officers of large multinational companies, according to a survey released Thursday, news services reported.

Less than 15% percent of 71 CEOs polled by the Business Council and the Conference Board expect business conditions in the United States to improve in the next six months, down from almost 40% in February, Reuters reported.

About 27% expect improvements to continue in their industries, down from 43.2% in February, Reuters said, citing the survey.

The poll was conducted in September in the aftermath of Hurricane Katrina and prior to Hurricane Rita, so the results do not reflect the full impact of the powerful storms, the Business Council said.

Despite the mixed outlook, the CEOs were not ready to alter the profit outlook or forecasts for capital spending, the survey said.