PwC’s 22nd Annual Global CEO Survey shows what CEOs expect of 2019.
Last year’s PwC survey saw a record jump in optimism regarding global growth prospects. This year it saw a record jump in pessimism.
After surveying 1,378 CEOs in more than 90 territories explores between September and October of 2018, the PwC index found that nearly 30% of CEOs project a decline in global economic growth in 2019, up from a mere 5% last year.
The same CEOs also reported a notable drop in confidence within their own organizations over the short (12-month) and medium (three-year) term, despite that ‘improve’ responses outnumbered ‘decline’ responses in the survey, meaning more CEOs see growth continuing to climb and those projecting a ‘decline’ are referring to the rate of growth, not the economy itself.
Still, according to the PwC survey, the two trend lines approach one another this year as dramatically as they parted last year, with the drop-off in optimism approaching the rise in pessimism, meaning that if CEO confidence continues to be a leading indicator, global economic growth does face an important slow down in 2019.
International trade tensions, political upset and uncertainty, and stricter monetary and fiscal policy all play out differently, but with the same general result across regions: a more cautious outlook on global economic growth.
Visit the complete study here.
Do you believe global economic growth will improve, stay the same, or decline over the next 12 months?