Business

Pessimism at record level among CEOs: PwC survey

In the survey, only 27% of CEOs said they are ‘very confident’ in their prospects for revenue growth in 2020, a low level not seen since 2009.

A record level of pessimism has creeped into the CEOs across the world regarding the worldwide economic growth, a survey showed here on the first evening of the WEF annual meeting.

For the first time, more than half of the CEOs surveyed by global consultancy PwC said they believe the rate of global GDP growth will decline.

In comparison, the survey had found a record level of optimism among CEOs two years ago in 2018.

In the latest survey, only 27% of CEOs said they are ‘very confident’ in their prospects for revenue growth in 2020, a low level not seen since 2009.

The survey covered nearly 1,600 CEOs in 83 territories.

While 53% projected a decline in global economic growth (up sharply from 29% last year), only 22% expected improvement (down from 42%).

In 2018, a record high of 57% had expected improvement in global GDP.

China was the only major economy where CEO confidence has gone up regarding 2020 revenue growth prospects of their companies.

Why you should pay for quality journalism - Click to know more

Recommended for you
This article is closed for comments.
Please Email the Editor

Printable version | Feb 28, 2020 6:20:52 PM | https://www.thehindu.com/business/pessimism-at-record-level-among-ceos-pwc-survey/article30613037.ece

Next Story