DALLAS, Oct. 28, 2014 (GLOBE NEWSWIRE) -- Shrugging off concerns of a global growth slowdown, the YPO Global Pulse index of CEO sentiment for the United States slipped 0.6 point in the third quarter to land at 64.2, a robust level near its five-year peak of 65.1. This quarter marked the first time since the index began in July 2009 that U.S. confidence has stayed above the relatively high level of 63.0 for four consecutive quarters.
"While concerns of a global growth slowdown and jittery stock markets around the world managed to put a dent in business confidence over the third quarter, the slight decline was mostly due to short-term expectations. Twelve-month outlooks remained largely unchanged," said Alan Zafran, managing director First Republic Investment Management and a member of YPO's Global One Chapter. "U.S. CEOs continue to expect moderate economic growth in the year ahead," he added.
Forty-four percent of survey respondents said they expected to boost hiring by 10% or more over the next 12 months, while only 5% foresaw cuts. About the same percentage (45%) said they would make additional fixed investments over the same period. Sales expectations were even more optimistic, with more than 70% forecasting higher sales during the coming year.
Stephen Slifer, YPO Global Pulse economic adviser and chief economist at NumberNomics, said, "Alongside the rapid improvement we are seeing in the labor market, YPO CEOs' positive outlook is very encouraging. The economic fundamentals in the U.S. remain solid, and CEOs indicate they expect this to continue. For the first time in the business cycle, the United States is set to become an engine of growth for Europe and Asia."
YPO Global Pulse Confidence Index
The quarterly electronic survey, conducted in the first two weeks of October, gathered answers from 2,431 chief executive officers across the world, including 1,096 in the United States. Globally, the YPO Global Pulse Confidence Index edged down 0.8 point on moderate declines in most regions, remaining in optimistic territory at 63.2. Visit www.ypo.org/globalpulse for more information about the survey methodology and results from around the world. A more detailed version of this release may be found at www.ypo.org/news-media/press-releases/.
YPO (Young Presidents' Organization) is a not-for-profit, global network of young chief executives connected through the shared mission of becoming Better Leaders Through Education and Idea ExchangeTM. Founded in 1950, YPO today provides 22,000 peers and their families in more than 125 countries with access to unique experiences, extraordinary educational resources, access to alliances with leading institutions, and participation in specialized networks to support their business, community and personal leadership. Altogether, YPO member-run companies employ more than 15 million people around the world and generate US$6 trillion in annual revenues. For more information, visit www.ypo.org.
CONTACT: YPO (Young Presidents' Organization) Michele Foster +33 6 8494 9788 (Europe) firstname.lastname@example.org
Source:Young Presidents' Organization, Inc.