“The survey suggests that CEO confidence has rebounded despite persistently high oil prices, devastating natural catastrophes worldwide and a continuing volatile geopolitical environment,” said Hank McKinnell, chairman of Business Roundtable and CEO of drugmaker Pfizer Inc. “The economy is being driven by strong consumer spending, as well as strong capital spending by companies and continued productivity gains,” McKinnell added.

The overall CEO Economic Outlook Index increased to 101.4 from 88.2 in September which indicates significant economic expansion. It was the second-highest level in the survey’s three-year history, trailing only the 104.4 recorded in the first quarter of 2005. CEOs expect overall US economic growth of 3.3% in 2006, compared with a projected 3.4% to 3.5% this year, the report stated.

BUSINESS Roundtable released a survey on December 14 which stated that Chief executives expect the US economy to show strength in 2006, as strong consumer and corporate spending and increased productivity offset rising health-care and energy costs. The survey was completed by 117 of 160 member companies.