Ceos Less Optimistic About Global Economy for 2015
CEOs Less Optimistic About Global Economy for 2015
But Confidence in Growth of Their Own Companies Remains Steady
United States has overtaken China as top target for growth for the first
time in five years
Russian CEOs go from most confident in 2014 to least in 2015
DAVOS, Switzerland, Jan. 20, 2015 (GLOBE NEWSWIRE) -- Fewer CEOs than
last year think global economic growth will improve over the next 12
months, though confidence in their ability to achieve revenue growth in
their own companies remains stable, say the more than 1,300 CEOs
interviewed in PwC's 18th Annual Global CEO Survey. Results of the
survey were released today at the opening of the World Economic Forum
Annual Meeting in Davos, Switzerland.
Infographics accompanying this release are available at
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Global Economy
CEOs are less optimistic about global growth prospects than a year ago,
with 37% of CEOs thinking global economic growth will improve in 2015.
This is down from 44% last year. Significantly, 17% of CEOs believe
global economic growth will decline, more than twice as many as a year
ago (7%). The remaining 44% expect economic conditions to remain
steady.
Regionally, the results show wide variations. CEOs in Asia Pacific are
the most optimistic about the global economy with 45% anticipating
improvement, followed by the Middle East (44%) and North America (37%).
On the other hand, only 16% of CEOs in Central and Eastern Europe
expect economic improvement. CEOs in emerging economies like India
(59%), China (46%) and Mexico (42%) are more optimistic about the
economy than those in developed economies like the US (29%) and Germany
(33%).
Revenue Growth
Despite the overall declining outlook for the global economy, CEOs
remain confident about prospects for their own company; 39% worldwide
said they are 'very confident' their company's revenues will grow in
the next 12 months. That's the same as last year; though up slightly
from 36% in 2013.
CEOs in the Asia Pacific region (45%) are most confident of revenue
growth, about the same as last year. The Middle East is still one of
the most optimistic regions with 44% of CEOs very confident of revenue
growth, although this is down markedly from last year's 69%. CEO
confidence in growth is higher in North America, rising to 43% from
33%. CEOs in Western Europe (31%) and Central and Eastern Europe (30%)
are least optimistic about their company's growth prospects.
Looking country by country, India's CEOs top the list, with 62% very
confident in their short-term growth prospects. Other leading countries
include Mexico (50%), the US (46%), Australia (43%) the UK and South
Africa (39%), China (36%), Germany (35%) and Brazil (30%). Among the
least confident countries are France (23%), Venezuela (22%), Italy
(20%), Argentina (17%) and, at the bottom of the list, Russia, with
only 16% of CEOs very confident of revenue growth for 2015. This is
down from 53% last year when Russia's CEOs were the most confident in
the world.
Commenting on the survey results, Dennis M. Nally, Chairman of
PricewaterhouseCoopers International, says:
"The world is facing significant challenges: economically, politically
and socially. CEOs overall remain cautious in their near-term outlook
for the worldwide economy, as well as for growth prospects for their
own companies. While some mature markets like the US appear to be
rebounding, others like the Eurozone continue to struggle. And while
some emerging economies continue to expand rapidly, others are slowing.
Finding the right strategic balance to sustain growth in this changing
marketplace remains a challenge.
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