California CEOs Remain Highly Confident in Latest YPO Survey
August 04 2015 - 3:01AM
Business Wire
Reading dips slightly but still well above
overall U.S. and the rest of the world
The YPO Global Pulse Confidence Index for California declined
0.5 point in the July survey to 65.8 from 66.3 but remains in very
positive territory. By comparison, the YPO Global Pulse Confidence
Index for the overall United States for July at 62.8 was 3.0 points
lower than California.
"A thriving technology sector, robust commercial and residential
real estate market conditions in key metropolitan markets, and
consistently performing hospitality, construction and
service-related sectors continue to overshadow the negative impact
of a strong U.S. dollar on exporters let alone any
consumption-related fears that weakness in Greece and China may
have on California's economy," said Alan Zafran, senior managing
director and portfolio manager of First Republic Investment
Management and a member of YPO’s Global One Chapter.
Global Results
The YPO Global Pulse Confidence Index declined 0.6 point to 60.9
in the second quarter 2015 survey. This was the fourth consecutive
drop in global confidence from a near record high of 64.0 in July
2014, but each of the quarterly declines has been modest. Across
the globe, confidence among the nine regions was the highest in the
United States, even though it declined 0.5 point to 62.8.
Confidence declined 1.6 points in Asia to 62.0, and 1.9 points in
the European Union to 61.6. Confidence rose 1.0 in Australasia to
61.4, and 2.1 points in Canada to 60.0. Latin America recorded its
third consecutive drop in confidence, falling 2.3 points to 50.1,
by far the lowest level among the nine regions.
Key findings in California
CEOs see continuing strength in the second half. Asked to
look six months ahead, more than half of California CEOs (51%) said
they expected overall business and economic conditions affecting
their company to be better compared with today, down from 56% in
the April survey. California companies in the construction and
production sections were more optimistic than companies in the
services sector.
Very positive outlook for hiring, especially in
construction. The outlook for job growth remained very positive
with 50% of California CEOs expecting to increase their employment
levels over the next 12 months, down from 54% in the prior survey.
California construction CEOs were the most confident. A full 75%
expected to increase employment, compared with 48% of service
sector companies and 44% of production companies.
YPO Global Pulse Confidence Index
The quarterly electronic survey, conducted in the first two
weeks of July, gathered answers from 2,127 chief executive officers
across the globe, including 886 in the United States, which
included 153 from California. Visit www.ypo.org/globalpulse for
more information about the survey methodology and results from
around the world.
About YPO
YPO (Young Presidents’ Organization) is a not-for-profit, global
network of young chief executives connected through the shared
mission of becoming Better Leaders Through Education and Idea
ExchangeTM. Founded in 1950, YPO today provides 23,000 peers and
their families in 130 countries with access to unique experiences,
extraordinary educational resources, access to alliances with
leading institutions, and participation in specialized networks to
support their business, community and personal leadership.
Altogether, YPO member-run companies employ more than 15 million
people around the world and generate US$6 trillion in annual
revenues. For more information, visit www.ypo.org.
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version on businesswire.com: http://www.businesswire.com/news/home/20150804005518/en/
YPO (Young Presidents’ Organization)Linda Fisk,
+1-972-207-4298press@ypo.org