Measure of CEO Confidence Survey for ERT

by The Conference Board

Every six months, our survey partner The Conference Board conducts a survey of the European business leaders in ERT’s Membership, assessing their views on economic confidence, the investment outlook and whether the EU is becoming more a competitive place to do business.

Two Years Below Neutral: European CEO Confidence Falls as Outlook Deteriorates

European business leaders contend with energy shock, with diminishing confidence in swift delivery of Single Market agenda

  • CEO confidence in Europe extends its unprecedented slump, remaining below neutral for two years with expectations worsening further.
  • Energy insecurity tops geopolitical risks, compounding a sharp deterioration in the economic outlook and near-term business prospects.
  • Global partnerships shift east and closer to home, with India emerging as the top strategic priority while nearly 70% of European CEOs call for deeper UK ties.
  • Structural pessimism deepens on Europe’s future, with 65% of CEOs doubting completion of the Single Market by 2030 and stronger growth seen outside

Scroll through the highlights on the right or check our press release and the full report, available here (and press coverage here).

H1 2026 Survey, Key Findings

CEOs’ confidence for Europe falls slightly and remains below neutral as economic conditions and expectations deteriorate, despite industry conditions approaching neutral levels

Evolution of The Conference Board Measure of CEO ConfidenceTM for Europe by ERT and its subcomponents graph

Note: A reading below 50 denotes more negative than positive responses. Source: The Conference Board Measure of CEO Confidence™ for Europe by ERT, H1 2026

Confidence for business in Europe increases but remains below neutral, while business expectations outside Europe are unchanged

CEOs’ views on general conditions for their business over the next six months graph

Note: A reading below 50 denotes more negative than positive responses. Source: The Conference Board Measure of CEO Confidence™ for Europe by ERT, H1 2026

Employment and investment expectations remain broadly unchanged, as sales prospects in Europe improve

Over the next six months, what do you expect will happen with your company’s graph

Note: A reading below 50 denotes more negative than positive responses. Source: The Conference Board Measure of CEO Confidence™ for Europe by ERT, H1 2026

Energy supply insecurity tops risks for CEOs in Europe

What geopolitical developments pose the greatest risks to your business graph

Note: Numbers show the share of respondents that selected a given option in their top three. Source: The Conference Board Measure of CEO Confidence™ for Europe by ERT, H1 2026

The negative effect of current conflicts is mostly expected in the near term, with fewer respondents anticipating a structural impact What impact are current conflicts, particularly in the Middle East, having on your business?

What impact are current conflicts, particularly in the Middle East, having on your business graph

Note: Figures may not total 100% due to rounding. Source: The Conference Board Measure of CEO Confidence™ for Europe by ERT, H1 2026

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