• Of course CEO confidence is heavily influenced by where their company is located.
• CEOs in the Middle East, for example, were the most confident with nearly 70% stating they were ‘very confident’ of short term revenue growth.
• That’s contrasted by CEOs in Latin America where we saw a 10% decrease to 43% and in Western Europe where 30%, the lowest in our survey, said they were ‘very confident’ of revenue growth. However, on the positive side, this is up from 22% last year.
• What’s interesting here is that the CEOs are more optimistic about the global economy than with their own company’s growth prospects over the next 12 months.
• I’m come back to this point in a few minutes.
• On a country level… Russia topped the list of CEO confidence, followed by Mexico, with France and Argentina at the bottom.
• Some of the changes from last year:
US at 36% -- up from 30% last year.
UK at 27% -- up from 22% last year
China at 48% -- up from 40% last year; while
India is at 49% -- down from 63%.
• Last year, the advanced economies were struggling while the emerging economies surged. This year – exactly the opposite -- the advanced economies are mending, while growth in some of the emerging economies is decelerating.
• When we look at the industry sectors, CEOs most confident about their company revenue growth over the next 12 months came from Hospitality and Leisure, Banking and Capital Markets, and Retail.
• CEOs are also feeling good about hiring plans with 50% of CEOs planning to add staff in the year ahead...up from 45% last year -- and with things looking most positive for jobs in the technology and business services.
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