Business executives expect upturn by the year-end
Amid the ongoing global downturn, business executives view their economies as bad but do not see them getting much worse and some of them expect an upturn to begin by the year-end, a new global survey has found.
By PTI |
NEW YORK: Amid the ongoing global downturn, business executives view their economies as bad but do not see them getting much worse and some of them expect an upturn to begin by the year-end, a new global survey has found.
In a change from recent months, executives' economic expectations, though gloomy, don't appear to have worsened notably over the past six weeks, according to a survey conducted by McKinsey Quarterly between January 27 to February 2 .
Government actions have helped, many say. Companies are hanging on, and many are taking long-term actions to cope with economic turmoil, it showed.
Many respondents opine that government action has made the economic situation better than it would have been otherwise. Looking ahead, more executives say government help should focus on fostering innovation than on helping existing companies or industries.
Most companies, respondents to the survey indicate, are still coping with the crisis by cutting costs, and many are also making more use of long-term tactics (such as restructuring) suggesting that they see the global economic turmoil as the new normal.
Three-quarters of all respondents, and more than 90 per cent of those in the euro-zone, expect their nations' GDP to fall in 2009. This is an increase from November, when 59 per cent of all respondents expected GDP to fall.
In a change from recent months, executives' economic expectations, though gloomy, don't appear to have worsened notably over the past six weeks, according to a survey conducted by McKinsey Quarterly between January 27 to February 2 .
Government actions have helped, many say. Companies are hanging on, and many are taking long-term actions to cope with economic turmoil, it showed.
Many respondents opine that government action has made the economic situation better than it would have been otherwise. Looking ahead, more executives say government help should focus on fostering innovation than on helping existing companies or industries.
Most companies, respondents to the survey indicate, are still coping with the crisis by cutting costs, and many are also making more use of long-term tactics (such as restructuring) suggesting that they see the global economic turmoil as the new normal.
Three-quarters of all respondents, and more than 90 per cent of those in the euro-zone, expect their nations' GDP to fall in 2009. This is an increase from November, when 59 per cent of all respondents expected GDP to fall.
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