HomeEconomyGlobal survey: 73 percent global economic growth decline over the next 12...

Global survey: 73 percent global economic growth decline over the next 12 months

In the most pessimistic outlook in more than a decade, a global survey of CEOs showed on Monday that 73 percent of them expect global economic growth to decline over the next 12 months.

Releasing the annual survey on the first day of the World Economic Forum’s annual meeting here, PwC said it was a significant departure from an upbeat outlook for 2021 and 2022, when more than two-thirds think economic growth will improve. It’s the most pessimistic CEOs feel about global economic growth since PwC began asking the question 12 years ago.

The survey also found that nearly 40 percent of CEOs do not believe their organizations will be economically viable in 10 years if they do not transform. Inflation, macroeconomic volatility and geopolitical conflicts were ranked among the top global threats, while cyber and health risks fell compared to the previous year.

The survey also showed that companies are cutting costs but not yet planning to cut staff or pay in the fight to retain talent after the “great resignation”. Leaders in France, Germany and the UK were found to be less optimistic about domestic growth than global growth compared to those in the US, Brazil, India and China. The 26th annual survey was conducted among 4,410 CEOs from 105 countries and territories, including 68 CEOs from India, between October and November 2022.

Read Now :<strong>India and the UK will launch the Young Professionals Scheme on 28 February</strong>

[responsivevoice_button buttontext="Listen This Post" voice="Hindi Female"]

LEAVE A REPLY

Please enter your comment!
Please enter your name here

RELATED ARTICLES

Trending News

War Takes Toll on Gaza’s Ancient Treasures, Some Safely Stored in Switzerland

The ongoing conflict in Gaza has inflicted significant damage on the region's rich historical heritage, with ancient sites and...

Akhilesh Yadav commented “BJP Has Become the Warehouse of the Corrupt”

In a bold declaration just ahead of the national elections, Samajwadi Party chief Akhilesh Yadav, accompanied by Congress leader...

Ruang Volcano Eruptions Prompt Evacuation of Hundreds in North Sulawesi

Amidst multiple eruptions of Indonesia's Ruang volcano, located in North Sulawesi province, at least 800 individuals have been evacuated...

Hundreds Evacuated as Mt. Ruang Erupts Multiple Times in Indonesia

At least 800 people have been evacuated from Indonesia's North Sulawesi province following multiple eruptions of the Ruang volcano,...