The Young Presidents' Organization Global Pulse Index dropped 3.4 points in the third quarter to 57.7 as confidence declined among the more than 1,000 U.S. CEOs participating in the survey.
This marks the second straight decline and the first time the U.S. index has dropped in consecutive quarters since the index started in July 2009. The index is based on 50, meaning a reading of 57.7 reveals CEOs are moderately confident the economy will grow over the next 12 months, but this confidence has lessened since July 2010.
The index also finds CEOs believe business conditions have worsened since only six months ago. Twenty-seven percent of respondents say the economy had improved, a drop from 46 percent in the July survey. Another 36 percent of respondents say conditions worsened, compared to 17 percent of respondents from the July index.
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