TEC Confidence Index slips in Q1

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San Diego--The TEC Confidence Index, which measures economic confidence quarter over quarter, slipped by 1.5% in the first quarter, according to a report from TEC International, an organization of CEOs.

The index is based on interviews with more than 1,000 CEOs nationwide regarding their confidence in the economy.

Despite the slight dip in the overall level of confidence, the survey results indicated that CEOs expect strong economic expansion in the coming year.

Nearly three-quarters (74%) of those surveyed said they believe that overall economic conditions have improved over the past year, 82.8% said they expect sales revenues to increase over the next 12 months and 71.7% said they expect their companies' profits to improve over the next 12 months.

Eighty-five percent of CEOs surveyed said their companies plan to hire during the next 12 months, and 51.9% said they will increase fixed investments.

--Kate Maddox

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