CEO confidence in outlook is near pre-crisis levels

Elizabeth Fournier
COMPANY bosses are in a positive mood about economic growth over the next year, with confidence levels amongst chief executives almost back to the levels seen in 2008.

Of 1,201 executives polled by accountants PricewaterhouseCoopers, 48 per cent of respondents are “very confident” about their company’s prospects for growth over the next 12 months – a sharp climb from last year’s figure of just 31 per cent.

The Annual Global CEO Survey, launched at the World Economic Forum last night, also showed that executives on the search for sustainable growth were increasingly turning to emerging markets, with 92 per cent expecting growth in their Asian operations compared to just 48 per cent confident of the same in Europe.

It means that executives based in developed markets are increasingly looking further afield for opportunities to expand their businesses. “Any industrial company – if they’re going to be a global leader – has to have a large presence in emerging markets,” said Ed Breen, chairman and chief executive of US-based industrial conglomerate Tyco International.