CEOs Cautiously Optimistic on Economy

New York (July 27, 2004) -- While nearly three-quarters of chief executives surveyed expect the current economic upturn to have staying power, the majority are still proceeding with caution, according to PricewaterhouseCoopers.

While 73 percent of CEOs polled expect the upturn to last two to three years or longer, two-thirds are taking a short-term approach, managing with a business planning cycle of one year or less. One in four CEOs view the upturn as a phenomenon of a year or less. Only 33 percent are operating from a plan covering the next two to three years, according to PwC, which interviewed the CEOs of 392 privately held product and service companies identified as the fastest growing U.S. businesses over the last five years.