Finance chiefs see green shoots of a global economic recovery

Marion Dakers
FINANCE and economic experts in Britain and across the world are becoming more hopeful about global growth this year, according to two surveys out yesterday.

A net balance of 10 per cent of UK chief financial officers are more optimistic about the prospects for their companies than they were three months ago, a quarterly survey by Deloitte shows.

While almost one in five are bracing themselves for a country leaving the euro currency bloc in the next year, this is half the number who feared a break-up in mid-2012.

CFOs for UK-listed firms are also seeing improved credit conditions and rising risk appetite, particularly in their overseas markets, Deloitte added.

And the World Economic Forum’s quarterly poll of economic experts found growing signs of hope for a global recovery, although its overall barometer shows lingering uncertainty.

The WEF’s economic confidence index rose from 0.43 in the last quarter to 0.48, slightly below the 0.5 reading that separates optimism from pessimism but the best reading since the latest bout of Eurozone turmoil flared up last summer.

“It looks as though the worst is over and experts are not too worried about a double-dip recession of the world economy, as a whole,” said Martina Gmür, senior director of the WEF’s global agenda council, of the poll of 304 global experts.

Thirty-one per cent of respondents were confident or very confident about the world’s economic prospects, up from 23 per cent.