The CEO confidence index from the Chief Executive Group looks at expectations of overall business conditions on a scale of 1- 10. The survey provides a good picture of the change in expectations by major businesses outside of their earnings estimates. The story is consistent with what has been seen in the stock market. The gains early in the year have plateaued and we are now seeing a deterioration in confidence as well as the market. This may not be the bets leading indicator, bu ti provide support to the recent weakness in stocks.
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