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Global CEOs are showing record levels of pessimism in the world economy, with 53 percent predicting a decline in the rate of economic growth in 2020.
This is according to the PricewaterhouseCoopers (PwC) 23rd Annual Global CEO Survey. Launched this week at the World Economic Forum in Davos, Switzerland, the 2020 survey questioned almost 1 600 CEOs from 83 countries.
From Africa to the Asia-Pacific region, Central and Eastern Europe, Latin America (including Mexico), the Middle East, North America and Western Europe, they share the sentiment that global economic growth will slow in 2020.
The survey also reveals that in the past two years, the percentage of global CEOs who believe that gross domestic product (GDP) growth will decline has risen, their negative outlook increasing tenfold from 5 percent to 53 percent.
This is up from 29 percent in 2019 and just 5 percent in 2018 – making it the highest level of pessimism since PwC started the survey in 2012.
The biggest threat clouding the CEOs’ outlook for 2020 is caused mainly by over-regulation globally, but concerns are also rising over uncertain economic growth, as well as trade conflicts, climate change and cyber threats. SA CEOs also feeling the anxiety.
SA CEOs are not spared of this global uncertainty about where the road will lead them in 2020. —Moneyweb.
Online Reporter