PricewaterhouseCoopers released at the World Economic Forum annual meeting in Davos the “15th Annual Global CEO Survey.” According to the report nearly half of the 1,258 CEOs polled worldwide believe the global economy will decline even further in the next 12 months.
However, nearly three times as many CEOs are confident in their own companies’ growth prospects for the next 12 months than in the outlook for the global economy, suggesting CEOs believe they have learned how to manage through difficult economic times.
Unsurprisingly, the biggest decline in confidence was inWestern Europe. Beset by the sovereign debt crisis, just a quarter of European CEOs said they were very confident of revenue growth, down sharply from nearly 40 percent last year. However, short term confidence also fell among CEOs in Asia Pacific to 42 percent from 54 percent last year.
The full report is available online.