The Conference Board’s measure of CEO confidence bounced back in the final quarter of 2010 with more than half of chief executives anticipating improving economic conditions in the next six months.

The CEO confidence measure jumped to 62 in the fourth quarter, after falling in the third quarter to 50. A reading of more than 50 points reflects more positive responses than negative responses.

“The improvement in both current and future conditions suggests a strong finish to 2010 and continued growth in the first half of 2011,” said Lynn Franco, director of the Conference Board Consumer Research Center in New York.

The survey found that 56 percent of chief executives believe business conditions are better compared to six months ago, up from 32 percent last quarter. Their short-term outlook is also more optimistic with 56 percent of business leaders anticipating an improvement in economic conditions over the next six months, up from 22 percent last quarter.

Meanwhile, the survey found inflation lurking on the horizon. On average, firms plan to raise prices by 3.3 percent, a more aggressive pace than last year’s expectation of a 1.6 percent increase.