CEOs weigh economy

Lisa Napoli Sep 19, 2006
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CEOs weigh economy

Lisa Napoli Sep 19, 2006
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TEXT OF STORY

SCOTT JAGOW: So here’s what the country’s CEO’s think about the economy: Eh. A new survey from the Business Roundtable captures that lackluster feeling. Here’s Lisa Napoli.


LISA NAPOLI: Pessimism appears to be reigning among America’s chief executives.

While they expect higher sales this quarter, the expectations aren’t as rosy as they were earlier this year.

John Castellani of Business Roundtable says the sluggishness seems to mirror the general sentiment in the business community.

JOHN CASTELLANI: What I think we are seeing is the effect of 17 straight interest rate increases from the Federal Reserve and higher oil prices. They are taking a toll on the economy.

Castellani says that in response, chief executives could cut back on spending on equipment and infrastructure.

He also says the survey showed many companies aren’t as eager to hire now — although for now, that doesn’t mean layoffs.

In New York, I’m Lisa Napoli for Marketplace.

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