Business Roundtable Releases First Quarter 2008 CEO Economic Outlook Survey

International Markets Provide Cushion to U.S. Economic Downturn
for Many U.S. Companies
WASHINGTON--(Business Wire)--
The leaders of America's top companies see flat expectations for
sales, capital expenditures and employment over the next six months,
with strong demand from overseas markets providing some relief from
the U.S. downturn, according to Business Roundtable's first quarter
2008 CEO Economic Outlook Survey, released today.

The Business Roundtable CEO Economic Outlook Index -- which
reflects sales, capital expenditures, and employment figures for the
next six months -- was unchanged in the first quarter of 2008,
remaining at 79.5, the same level as the fourth quarter of 2007.
Business Roundtable is an association of chief executive officers of
leading corporations, representing a combined workforce of nearly 10
million employees and $4.5 trillion in annual revenues.

"Despite the current downturn in the U.S., this quarter's results
suggest that member CEOs have a steady outlook for their businesses
over the next six months, with expectations for sales, capital
expenditures and employment all remaining virtually unchanged," said
Harold McGraw III, chairman of Business Roundtable and chairman,
president and CEO of The McGraw-Hill Companies. "The CEOs surveyed
preside over our country's largest companies, all of which are
actively engaged in the international economy. Today, more than ever,
these companies' outlooks are bolstered by the strong demand for U.S.
goods and services from around the world. Additionally, the Fed's
recent actions to inject more liquidity into the system are expected
to have a positive impact in the months ahead."

The survey's key findings for the next six months include:

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*T
No
Increase Change Decrease
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1. How do you expect your company's sales
to change in the next six months? 70% 21% 9%
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2. How do you expect your company's U.S.
capital spending to change in the next
six months? 35% 50% 15%
----------------------------------------------------------------------
3. How do you expect your company's U.S.
employment to change in the next six
months? 30% 48% 22%
----------------------------------------------------------------------
*T

CEO Economic Outlook Index for First Quarter

On overall U.S. economic growth, member CEOs estimate that GDP
growth will be 1.5 percent; down from the 2.1 percent GDP growth
assumed last quarter.

The CEO Economic Outlook Index combines the responses on projected
sales, capital spending and employment into an overall index, which
shows how the CEOs believe the U.S. economy will perform in the six
months ahead. This is a diffusion index centered on 50, meaning
anything above 50 is expansion and anything below 50 is contraction.

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CEO ECONOMIC OUTLOOK INDEX
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Survey CEO Economic
Date Outlook Index
======================================================================
2008 Q1 79.5
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2007 Q4 79.5
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2007 Q3 77.4
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2007 Q2 81.9
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2007 Q1 84.9
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2006 Q4 81.9
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*T

The Roundtable's CEO Economic Outlook Survey, conducted quarterly
since the fourth quarter of 2002, provides a forward-looking view of
the economic assumptions and outlooks of Roundtable member CEOs.

The survey was completed between March 10th and March 27th by 100
of the Roundtable's 160 member CEOs. The percentages in some
categories may not add up to 100 due to rounding. Results of all
surveys can be found at www.businessroundtable.org/ceosurvey.

Business Roundtable (www.businessroundtable.org) is an association
of chief executive officers of leading U.S. companies with $4.5
trillion in annual revenues and nearly 10 million employees. Member
companies comprise nearly a third of the total value of the U.S. stock
markets and represent over 40 percent of all corporate income taxes
paid to the federal government. Collectively, they returned $114
billion in dividends to shareholders and the economy in 2006.

Business Roundtable
Kirk Monroe, 202-496-3269
or
Joe Crea, 202-496-3288

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