C-Meter: June 2004

By CIOinsight  |  Posted 06-01-2004
IT executives are slightly more optimistic about business prospects than when the Confidence Meter last appeared in the April issue. While confidence in the overall economy hasn't caught up yet to the levels of late 2003 and early 2004, levels in our respondents' own industries and own companies are at or near their highs. With factory orders on the rise for both durable and nondurable goods, according to the Commerce Department (up 4.3 percent for all goods in March, and 1.1 percent in February), it's not surprising that the noncomputer manufacturing and retail/wholesale distribution industries saw the largest up-tick in our survey: Confidence in these industries' outlooks rose 0.7 and 1 full point, respectively. We'll wait to see whether a rise in interest rates by the Federal Reserve Board, should it occur as expected, will lower confidence. To download this month's results, click here.