Business Pessimistic About Global Economic Growth, 53% Predict Decline - Survey
Faizan Hashmi Published January 21, 2020 | 01:50 AM
DAVOS (UrduPoint News / Sputnik - 21st January, 2020) CEOs around the world express record pessimism about global economic growth, with 53 percent of respondents percent predicting a downturn, according to a survey by PricewaterhouseCoopers (PwC) consulting company, published ahead of the Davos economic forum.
"In the survey, CEOs express a record level of pessimism regarding the global economic outlook in 2020, with 53% projecting a decline in the rate of global economic growth, up sharply from 29% last year," PwC said.
The business executives have cited over-regulation, trade conflicts, and uncertain economic growth as main threats to their organizations' prospects.
"The share of CEOs very confident in their 12-month growth prospects fell to 27%, the lowest level since 2009," the PwC mentions on its website.
The 50th World Economic Forum in Davos will be held from January 21-24. More than 50 world leaders, including US President Donald Trump, German Chancellor Angela Merkel, Austrian Chancellor Sebastian Kurz and Ukrainian President Volodymyr Zelenskyy, plan to attend.
Recent Stories
HEC reviews curricula for environmental sciences degree programme
ICC Asia looking forward to an action-packed Asia Cricket Week
Yuvraj Singh named ICC Men’s T20 World Cup 2024 Ambassador
Greece hands Olympic flame to 2024 Paris Games hosts
Two Kyiv hospitals evacuating over feared Russian strikes
World must act on neurotech revolution, say experts
Charles & Catherine's cancer diagnoses
Champions Alcaraz and Sabalenka through in Madrid Open
King Charles to resume some public duties during cancer treatment: palace
US defense chief announces $6 bn in security aid for Ukraine
Heavy rains cause damage to Spezand-Taftan railway track
Woman stabbed in Israel, attacker killed: police
More Stories From Business
-
Finance minister reviews progress on FBR digitalization
6 hours ago -
US stocks rebound on tech earnings, London hits new record
6 hours ago -
US approves gene therapy treatment for hemophilia
5 hours ago -
KATI president for inclusion of agri sector in tax net
5 hours ago -
Ahsan chairs 13th CPEC-JCC preparatory meeting, reviews arrangements for high-level delegation’s v ..
7 hours ago -
Police to take every step for security of business community: IGP
7 hours ago
-
WB director, Planning minister discuss reforms in development projects
7 hours ago -
IP rights crucial in achieving SDG : Jam Kamal
9 hours ago -
FBR’s data protection efforts commended by OECD assessment team
9 hours ago -
US stocks rebound on tech earnings, London hits new record
9 hours ago -
SECP-IFSB workshop highlights Pakistan's progress in Islamic Finance Development
9 hours ago -
SBP to announce monetary policy on April 29
9 hours ago