Australian executives 'cautiously optimistic'

A new survey has revealed that many Australian chief executives have confidence in the nation's economy, but remain guarded about the prospect of increased profitability.

The CEO Institute Business Confidence Index, published by the membership organisation on Monday (November 29th), produced an overall rating of 45 on a scale of 100 to minus 100.

Evan Davies, national spokesperson for the CEO Institute, said the general mood among corporate leaders in Australia is currently one of "cautious optimism".

He commented: "Our chief executives are flagging only moderate intentions for employment and investment and significantly lower expectations of profit growth."

The index also revealed that executives in Western Australia were the most positive, showing a rating of 58 compared with the national average of 45.

A total of 273 leaders of large private and public companies around Australia took part in the survey.

Founded in 1992, the CEO Institute offers learning and mentoring programmes for chief executives and senior executives.