Survey Shows Four Fifths of Industrial CEOs Expect the Global Economy to Stay the Same or Worsen

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11th September 2013 11:57 - Industrial

Data from PricewaterhouseCoopers’ “16th Annual Global CEO Survey” shows, a third (34%) of industrial manufacturing CEOs expect the current economic outlook to worsen, nearly half (45%) believe it will stay the same, while only a fifth (18%) think the situation will improve.

On the whole, industrial CEOs, appear ‘somewhat confident’ about their company’s prospects for revenue growth over the next twelve months (46%) - similar to the overall sample of 45%. However, of industrial CEOs, two fifths (43%) were ‘extremely concerned’ that uncertain or volatile economic growth could hinder their company’s growth prospects.

Many industrial manufacturing CEOs are focusing on making their business more efficient - nearly half (46%) said operational efficiency is their top investment priority this year, while - four out of five reported their companies have cut costs over the past twelve months – up from seven tenths (70%) last year.

For industrial manufacturing CEOs, the US is nearly as important as China, with a quarter (27%) expecting it to be one of their top foreign growth markets this year. Brazil and Germany follow with a tenth (16%) each.

However, if concerns about the state of the US economy are proven to be well-founded, this picture may well change – about one third of industrial manufacturing CEOs think a recession in the US looks likely, while another two fifths (42%) aren’t sure – seven tenths (69%) of sector CEOs say a US recession would hurt their business.

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