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Fiji Time: 4:15 PM on Monday 28 July

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No change in economy

Bbc
Thursday, January 24, 2013

MORE than half of chief executives (CEOs) in a new survey have predicted the global economy will continue on its current path of minimal growth in 2013.

In PricewaterhouseCoopers's (PwC) annual global CEO survey, 52 per cent predicted no change, 28 per cent foresaw further decline and 18 per cent expected an improvement.

It is still an improvement from last year when 48 per cent predicted a decline.

The research came from interviews conducted with 1330 chief executives in 68 countries. It was released at the start of the World Economic Forum in the Swiss ski resort of Davos.

"Chief executives believe that we are in for another year with a global economy that is reluctant to recover," Dennis Nally, chief executive of PwC International, said at the launch.

"Risks that were once viewed as improbable are now the norm."

The business leaders were more upbeat about the growth of their own companies, with 36 per cent of them very confident about growth prospects in 2013. But that was down from 40 per cent at the same time last year.

They were also asked what issues worried them the most and top of the list was uncertainty about growth, which 81 per cent of them cited.

Next came governments' responses to the deficit, which worried 71 per cent, followed by over-regulation at 69 per cent.


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