Survey Finds CEOs Expecting 'Solid' Growth, but Slower Than 2004

Click here to write a Letter to the Editor.

usiness Roundtable said its survey of chief executive officers for May found that "America's leading CEOs expect continued solid economic growth for the next six months," but at a slower pace than 2004.

Business Roundtable, which is an association of CEOs of leading corporations, said in a statement its economic outlook index declined to 94.3, from its first quarter level of 104.4, which was the highest reading since the survey began in November 2002.

Hank McKinnell, chairman of Business Roundtable and chairman and CEO of Pfizer Inc., said that about 85% of CEOs expected sales to continue to increase and 70% expected to add jobs or maintain current levels of employment through 2005.

In additional, the survey found 49% expected to increase capital spending and another 47% said it would remain the same in the next six months.

"Overall, the survey is consistent with an easing from the robust growth of 2004, but projects continued solid growth and business confidence," McKinnell said.

13163