CEOs still pessimistic, but less so, survey says

Top U.S. corporate executives were still pessimistic about the economy and their company's prospects in the second quarter, but the gloom was less widespread than in the first quarter, according to a survey released by the Business Roundtable on Tuesday.

The CEO economic outlook index improved to 18.5 in the second quarter from negative 5 in the first. The index ranges from negative 50 to 100, with any reading below 50 consistent with economic contraction. The survey was conducted in the first two weeks of June.

The CEOs expect the U.S. economy to shrink 2.1% in 2009, down from a 1.9% estimate three months ago.

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- Posted: 2009-06-23 10:15:32

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