The economic outlook of local executives improved for the second quarter, reversing three quarters of worsening pessimism, according to a California State University, Fullerton, survey.
The uptick is the first since last April. For the past three quarters, an index based on the Cal State Fullerton survey has shown executives grow more negative about the economy.
Executives still aren’t optimistic,the 22.7 reading for the second quarter remains near all-time lows. Readings below 50 indicate expectations of a declining economy.
But expectations took a turn from the first quarter, when the index was at 15.2, the lowest in the survey’s eight-year history.
The uptick could signal a coming to grips with the recession rather than an actual turn in the economy, according to Anil Puri, dean of the Mihaylo College of Business and Economics at Cal State Fullerton.
“It’s not a huge bounce,” he said. “It may be that the sense of panic and nervousness isn’t getting any worse.”
The index, which reflects the opinions of local business owners, chief executives and managers about the economy and their own businesses, hasn’t been above 50 since the third quarter of 2007.
For more on this story, read the April 6 issue of the Business Journal.
