Confidence in the U.S. economy continues to slide, according to the latest Vistage CEO Confidence Index. Chief executives of small- and mid-sized businesses are becoming increasingly concerned about the turmoil in financial markets and the effects it may have on their businesses. In Q3 2007, the Vistage CEO Confidence Index fell to 81.4, the lowest it has been since the survey began in 2003.
A quarterly measure of economic, market and industry trends, the Index dropped nine points, down from 90.5 in the prior quarter and 89.3 a year ago. Comparatively, when the Index was first created, confidence was measured at 100.0 in Q2 2003 and 108.7 in Q3 2003.
"Of the 2,103 business leaders surveyed, the concern is not only about the economy, but also about the availability and cost of credit to their companies," says Richard Curtin, Ph.D., a consultant for the Vistage CEO Confidence Index and director of consumer surveys at the University of Michigan at Ann Arbor. "Because of this, executives plan to put some of their planned investments on hold for the remainder of the year."
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