July 2023 – As we approach the end of July, the latest CEO Confidence Tracker has revealed a continuing trend of general confidence. Encouragingly, little has changed from February 2023’s Tracker. The percentage of CEOs feeling either ‘Very confident’ or ‘Quite confident’ has only decreased from 60% to 58%, while an unchanged 6% of CEOs remain ‘Not very confident’.
These statistics suggest the continuing confidence among CEOs. Back in February 2023, one CEO succinctly described the mixed position of their company: “good progress on performance indicators [usually] I’d be very confident but still monitoring the impact of the cost of living crisis on income and customer behaviour”.
This reasonable, albeit not overflowing, confidence is echoed again in July’s responses with this CEO active in the manufacturing sector observing – “Global economy down. People shifted out of Covid (and that time was about buying “stuff” instead of buying “experiences”) and (started) buying “experiences” – but now even that is slowing as people are feeling the pinch of inflation.”
How confident are you about the future performance of your business right now?