CEOs Report Improved Conditions

Despite 'economic doom and gloom' CEOs report improved conditions

Despite the 'economic doom and gloom', a member survey conducted by The CEO Institute reveals that more than 70 per cent report improved turnover and employment figures, compared to last year.

The survey was completed by more than one hundred members in Sydney and Melbourne who run companies with a total turnover of $A3.6 billion and employ in excess of 14,000.

The CEO Institute, which was founded in 1992 is a peer-to-peer organisation and offers an opportunity for CEOs to meet on a regular basis in an informal, confidential peer group environment.

The survey respondents were also optimistic about the immediate future with 43 per cent planning to invest in plant and equipment and employ more staff, compared to 40 per cent, who plan to wait and see.

Media reporting of the current economic conditions also came in for criticism with 79 per cent believing that it was inaccurate and biased.

Most agreed that the current international exchange rate for the Australian dollar was not good for business with 53 per cent believing it was unfavourable, while 30 per cent felt that the effect was neutral.

According to Mr Andrew Dalziel, the CEO of The CEO Institute, they decided to conduct the interview because the reports they were receiving from their members were inconsistent with media reports on the current economic conditions.

"Too much of the data that is being publicised only relates to one business segment, or is an opinion on what may, or may not happen, in the future.

"Many of our members are CEOs of small and medium sized businesses, which is the vast majority of all businesses and they are much more optimistic on the current situation," Mr Dalziel said.

*** For further information, please call Dennis Rutzou or Jodie Pawsey on (00612) 9413 4244.

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Released for The CEO Institute Limited by Corporate Focus (Tony Benner), Tel (09) 523 3661

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