CEO confidence tumbles to three-year low: Roundtable

The group's CEO Economic Outlook Index tumbled to 66 in the third quarter from 89.1 percent in the second, in the sharpest drop recorded in the survey's decade-long history. Confidence fell to its lowest point since the third quarter of 2009, when the U.S. had just emerged from its worst recession in 80 years, but remained above the 50 mark separating growth from decline.

Thirty-four percent of U.S. CEOs expect to cut jobs in the United States over the next six months, up from 20 percent a quarter ago, while 30 percent plan to raise capital spending, down from 43 percent. Fifty-eight percent expect their sales to rise over that time period, down from the previous survey's 75 percent.

The survey comes less than two months ahead of the U.S. presidential election, in which the weak economy and stubbornly high unemployment are shaping up to be key elements in voters' choice between incumbent Democratic President Barack Obama and Republican challenger Mitt Romney. Investors will get a more detailed look at corporate confidence next month when top U.S. companies including Alcoa Inc , JPMorgan Chase & Co and General Electric Co report quarterly results.

The survey of 138 CEOs was conducted from August 30 through September 14.

(Reporting By Scott Malone; Editing by Gerald E. McCormick)