CEOs Pessimistic About Global Economic Growth in 2020: PwC Survey

A recent survey by PwC reveals that over half of worldwide CEOs anticipate the global economic growth to slowdown in 2020, revealing a high level of pessimism among corporates around the world. Around 53% of global CEOs expect global economic growth to weaken this year, compared with only 29% who felt this way in last year’s survey.

Even though global equities have been rallying over the past few weeks over rising optimism around the US-China phase one trade deal, senior executives still remain concerned about the uncertainties due to trade tensions. The survey, which was conducted in September-October 2019, also lists geopolitical tensions and climate change related uncertainties as factors weighing on global economic growth.

A mere 27% of CEOs surveyed by PwC were “very confident” that their companies would grow over the next year. This is the lowest level seen since 2009, and well below the 35% who felt “very confident” about growth in 2019. PwC estimates the global economy to grow by around 2.4% in 2020.

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Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.
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