U.S. CEO confidence up but still cautious - survey

BOSTON, Sept 4 (Reuters) - U.S. chief executives became less nervous about the economy in August, but still have a wary outlook, a survey by Chief Executive magazine found.

The magazine's CEO Confidence Index rose 10.4 points to 92.6, up from a six-year low of 82.2 reached in July, with top executives indicating they did not plan to cut capital spending over the coming months.

They are still far less confident than a year earlier, when the index stood at 145.

CEOs were not bullish on jobs, with 46 percent of the 292 respondents polled, predicting that employment would fall over the coming quarter.

"This is the lowest level of bearish CEOs we've seen over the past six months," said Edward Kopko, publisher of the magazine. "However, while the index numbers are encouraging, the market remains soft and CEOs remain pessimistic about what the future holds."

The magazine has been conducting the survey since October 2002, when the index stood at 100. Numbers over 100 are viewed as positive sentiment with readings below 100 indicating negative sentiment, a spokesman for the publication said.

The U.S. economy has been rocked by tightening credit, high energy prices and a continued slump in the housing market, which has left consumers jittery about spending money. Data released on Thursday showed the number of U.S. workers filing new jobless claims spiked higher than expected last week.

Still, oil prices -- which triggered inflation concerns as they spiked to summertime record highs near $150 -- have dropped below $110 this week, easing one of the most intense cost pressures facing many industrial companies. (Reporting by Scott Malone, editing by Dave Zimmerman)