The Pessimism of World Business Rose to a Record
OREANDA-NEWS. The audit and consulting network PricewaterhouseCoopers (PwC) recorded a sharp increase in pessimistic sentiment of big business’ representatives about global economic growth.
The share of executives of the largest companies expecting a global economic slowdown in 2020 increased to 53 % compared to 29 % a year ago. It follows from the results of the traditional PwC survey published at the World Economic Forum in Davos. It is noted that never since 2012, when PwC began to ask this question, there were not so many pessimistic respondents among respondents.
However, the strengthening of negative business expectations does not coincide with the forecasts of leading global institutions: they believe that in 2019 the world economy has passed the lowest point of the cycle and will grow slightly in 2020. The forecast of the UN Conference on Trade and Development is 2.5 % growth in 2020 compared to 2.3 % in 2019. The World Bank also predicted acceleration in global economic growth of 2.5 %.