The Consumer Confidence Survey, a monthly measure of the public's faith in the health of the U.S. economy, is a forecasting instrument widely used by manufacturers, retailers, banks, the Federal Reserve, and United States government agencies.

For the past several months, unfortunately, the board's Confidence Index has continued to weaken. This is due in part, analysts say, because of a weak labor market, the threat of broader military action in the Persian Gulf, and a prolonged decline in the world's financial markets.

"Without the likelihood of a pickup in consumer spending, an already weak economic recovery could weaken further," says Lynn Franco, Director of The Conference Board's Consumer Research Center.

This gloom and doom scenario does not have many adherents among our readers, however. As our "executive summary" clearly suggests, America's business leaders are voicing new optimism for the coming year, with plans to expand operations well beyond their shores.

A separate study conducted by a British research firm and Deloitte Consulting reinforces our findings. According to this management consulting firm, senior executives throughout North America feel economic conditions worldwide will improve significantly over the coming 12 months. Only five percent of those queried in this hemisphere expressed worry that the economy would not improve--a figure that measured 10 percent when the same poll was taken last quarter.

Alas, the buoyant forecast made by our leaders was not shared by their counterparts on other continents. More than 600 "C-level" decision makers were polled in this global survey, with European executives expecting conditions to worsen slightly. A gloomier picture emerged in the Asia Pacific region, where confidence lagged by more than 50 percent over last year's level.

Perhaps closer attention should ultimately be paid to manufacturer and retailer profiles that surface in today's business journals. A close reading reveals that winners always prevail despite--and sometimes because--of hard times. Our cover stories last year celebrated the innovators and champions of globalization. Carly Fiorina faced odds makers betting on her failure to merge HP & Compaq; Ernie Ball emerged as an off-beat maker of guitar strings who "went global" when competitors were running for cover; and in Patrick Ricard, we found a Euro-entrepreneur bold enough to enter America's distilled spirits marketplace.

This year should be no less intoxicating. Send us your story ideas, and our editorial staff will pursue each lead with vigor. Only one rule: no whiners.

Best regards,

Patrick Burnson, Editor in Chief
PatrickB@worldtrademag.com