Conference Board: CEO confidence falls

An index that measures the confidence of chief executives nationwide fell sharply in the second quarter, the Conference Board said today.

The index measured 53 in the first quarter of this year but fell to 45 in the second quarter, the board said.

A reading of more than 50 points reflects more positive than negative responses.

"Several quarters of sluggish economic growth have taken a toll on CEOs confidence, erasing two quarters of improvement," Lynn Franco, director of the Conference Board Consumer Research Center, said today in a statement. "Looking ahead, CEOs do not expect a significant turnaround in conditions and profit expectations."

The Conference Board is a nonpartisan and not-for-profit research organization.
(By Chris Reidy, Globe staff)