CEOs Pessimistic About Global Economic Growth in 2020: PwC Survey

CEOs Pessimistic About Global Economic Growth in 2020: PwC Survey

Posted Tuesday, January 21, 2020 by
Arslan Butt • 1 min read

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.

Check out our free forex signals
Follow the top economic events on FX Leaders economic calendar
Trade better, discover more Forex Trading Strategies
Related Articles
We have some important economic events this week, although crude Oil is under spotlight as China's economy should show a rebound
3 weeks ago
Comments
0 0 vote
Article Rating
Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments