CEOs less gloomy about 2013 prospects

Rappler.com

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DAVOS MEETING. Leaders of nations and corporates gather at the World Economic Forum at the Swiss resort of Davos from January 23 to the 27. Photo by AFP

Top business leaders are less gloomy about the prospects for the global economy this 2013 than in 2012, but hardly brimming with confidence for 2013. A PricewaterhouseCoopers survey of 1,330 CEOs released on the eve of the Davos forum in Switzerland also showed that only 28% of CEOs said they expected the global economy to decline further in 2013, against 48% last year, while 52% expected it to remain stable. While the study shows the predictions are more positive this 2013, only 36% said they were “very confident” in their company’s growth prospects in the next 12 months, down from 40% last year and 48% in 2011. Western European business leaders were the most pessimistic among the surveyed CEOs, with just 22% saying they were very confident of growth. Latin American executives bucked the trend, with 53% expressing confidence in the short-term. Russian executives were the most confident, with 66% saying they had high expectations of revenue growth.

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