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Global Business Confidence Sags to 5-Year Low
Business expects further global growth in the year ahead, but the proportion of companies who forecast expansion has dropped to the lowest ratio since 2009, according to the London-based Markit Global Business Outlook Survey.
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Business expects further global growth in the year ahead, but the proportion of companies who forecast expansion has dropped to the lowest ratio since 2009, according to the London-based Markit Global Business Outlook Survey.
"Clouds are gathering over the global economic outlook," cautions Markit Chief Economist Chris Williamson.
The report, which surveyed 6,100 companies worldwide, notes several worries that are denting business optimism. They include the threats of another downturn in the eurozone, Russia's uncertain economic future, rising interest rates and geopolitical risks.
Williamson says business leaders expect continued slow or even slower growth in emerging markets in 2015.
Markit also found an unexpected decline in optimism in the U.S., led by a "dramatic" drop within the service sector. Williamson opines that America's economic growth may have peaked last summer and appear likely to slow in coming months.
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