Execs' outlook on state glum

California business executives have an overwhelmingly pessimistic view of the state's current economy and don't see many bright spots in the future, according to findings released Thursday by the Sacramento-based California Chamber of Commerce.

The chamber said the "California Business Executives Attitudes" survey, held May 12-21, sought responses from 1,113 California business executives.

Of that group, 77 percent said the state was headed in the wrong direction. Eighty-two percent rated California's economy as "fair or poor."

Only 10 percent of respondents expect the economy to be better in one year; 44 percent expect it to be worse.

But the executives were more optimistic about their own businesses; 29 percent said they believe their situation will be better in one year; 57 percent said their situation will likely be the same; and 14 percent said things will likely be worse.

The chamber also released a "California Economic Performance Scorecard," ranking the state 38th of 50. Officials said that scorecard, prepared by the California Foundation for Commerce and Education, was based on measurements of economic health and future competitiveness.

"This assessment of California's business climate shows what we all know – the economy, the state budget crisis and quality-of-life issues are all weighing heavily on the minds of business owners," said Allan Zaremberg, president and chief executive of the chamber.

– Mark Glover