C-Meter: May 2003

This month's Economic Confidence Meter survey was conducted just as the war in Iraq began, and the results indicate a slight rise in confidence, now that the doubt has dissipated. CIOs' confidence in the chances for a recovery in the overall economy in the next three months inched up two tenths of a point, from 5.0 to 5.2 on a scale of 1 to 10. Their confidence in the chances of a recovery in their own industry categories fell slightly, to 5.3 from 5.4, while the score they gave their own companies stayed even, at 6.1. While no industry sectors changed dramatically, among the gainers were media/publishing/advertising, which gained six tenths of a point, to 5.9, its highest in a long time, while financial services gained back half of last month's full-point loss, finishing at 5.2.