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CMO confidence in U.S. economy slumps

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Durham, N.C.—Chief marketing officers are less optimistic about the U.S. economy than they were six months ago, according to a survey conducted by Duke University's Fuqua School of Business. According to “The CMO Survey,” 29.0% of respondents expressed optimism about the U.S. economy, compared to 63.3% in the previous survey in February. Also, 35.8 % of respondents said they were less optimistic about the economy, compared with 8.5% in the previous survey. Respondents said they expect key customer metrics to decrease in the next 12 months. Among the metrics cited were purchase volume; purchase of related products and services; retention; and new customers, with an expected increased customer focus on price. A total of 528 CMOs responded to the online survey, conducted in July and August.
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