KUALA LUMPUR: PwC’s 17th Annual Global CEO Survey found twice as many CEOs around the world believed that the global economy would improve in the next 12 months.
The number of CEOs who see improvement in the global economy over the next 12 months leapt to 44 per cent, up from only 18 per cent last year, said PWC in a statement issued yesterday.
The study indicated 39 per cent of them saying they were ‘very confident’ that their company’s revenues would grow in 2014 and had plans to increase the size of their workforce.
And just seven per cent predicted the global economy would decline, sharply down from 28 per cent in 2013.
The statement added that despite the positive outlook, there were worries higher than ever on over-regulation, fiscal deficits, and tax policy.
Regionally, CEOs in Western Europe are the most confident about short-term global economic prospects, in line with signs of improving conditions.
They are followed by those in the Middle East, Asia Pacific, Latin America, North America and Africa.
CEOs in Central and Eastern Europe show the lowest level of confidence.
By industry, CEOs in the Hospitality and Leisure sector are most confident about prospects for the next 12 months, followed by those in Banking and Capital Markets, Retail, Financial Services, Asset Management, Communications, and Engineering and Construction. — Bernama