Published: March 30, 2011
Washington–The CEOs of America’s leading companies anticipate higher sales and plan to increase capital expenditures and employment over the next six months, according to the results of Business Roundtable’s first quarter 2011 CEO Economic Outlook Survey.
“With today’s survey results, the last three quarters have shown steady improvement in the CEO economic outlook. Our CEOs see momentum in the economy over the next six months, with increased demand fueling greater investment and job creation,” said Ivan G. Seidenberg, Chairman of Business Roundtable and Chairman and CEO of Verizon Communications. “This shift continues a trend as reflected in recent employment data, with the private sector leading the way in creating more jobs.”
The survey’s key findings from this quarter and the fourth quarter of 2010 include:
In terms of the overall U.S. economy, member CEOs estimate real GDP will grow by 2.9 percent in 2011, an increase from the 2.5 percent expected in the fourth quarter of 2010.
First Quarter 2011 CEO Economic Outlook Survey Index
The Business Roundtable CEO Economic Outlook Survey Index increased to 113 in the first quarter of 2011, up from 101 in the fourth quarter of 2010.
Business Roundtable’s CEO Economic Outlook Survey, conducted quarterly since the fourth quarter of 2002, provides a forward-looking view of the economy by Business Roundtable member CEOs.
The survey was completed between February 28 and March 18 and responses were received from 142 member CEOs. The percentages in some categories may not equal 100 due to rounding. Results of this and all previous surveys can be found at http://www.brt.org/ceo_survey.
Business Roundtable (BRT) is an association of chief executive officers of leading U.S. companies with nearly $6 trillion in annual revenues and more than 13 million employees. BRT member companies comprise nearly a third of the total value of the U.S. stock market and invest more than $114 billion annually in research and development – nearly half of all private U.S. R&D spending. Our companies pay more than $179 billion in dividends to shareholders.
BRT companies give nearly $9 billion a year in combined charitable contributions.