Swiss CEOs gloomy about the global economic outlook
Corporate leaders have grown a lot more pessimistic about the world economy due to trade disputes and tense relations between major powers, a survey shows.
This content was published on
1 minute
swissinfo.ch with SDA-ATS, Reuters and AP/urs
Português
pt
CEOs suíços pessimistas com perspectiva econômica mundial
The annual report by the London-based audit and consultancy company, Price Waterhouse Coopers (PwC), found that 29% of respondents believe global economic growth will decline over the next 12 months, a six-fold increase on the previous year.
“It’s quite a reversal from last year and the gloomier mood cuts across just about everywhere in the world,” said Bob Moritz, PwC global chairman. “With the rise of trade tension and protectionism, it stands to reason that confidence is waning,” he is quoted as saying.
The most pronounced shift was among business leaders in the United States as well as in Switzerland, according to the report.
Nearly half of the CEOs from the 30 Swiss listed companies said they believe the growth rate will fall.
Andreas Staubli, head of PwC Switzerland told the Keystone-SDA news agency that international and national political issues as well as the strength of the Swiss franc were the main factors for the gloomy outlook.
The surveyExternal link of nearly 1,400 CEO was conducted in 91 countries between September and October 2018.
It was published on the eve of the annual meeting of the World Economic Forum in the Swiss mountain resort of Davos.
More
More
Weakened cooperation hampers efforts to tackle global risks
This content was published on
The inability to foster collective action to deal with urgent major crises has reached a critical level, the latest WEF Global Risk Report warns.
Swiss climate activists block vehicles near Gotthard tunnel
This content was published on
Around ten climate activists briefly blocked the A2 motorway near the northern entrance of the Gotthard tunnel on Thursday.
Watches belonging to Michael Schumacher up for auction
This content was published on
Schumacher's family is auctioning off eight rare watches from his collection in Geneva. The Christie's auction will take place on Monday.
Joya Marleen and Baschi named best solo acts at Swiss Music Awards
This content was published on
St. Gallen singer Joya Marleen and Baschi from Basel were named artists of the year at the Swiss Music Awards 2024 on Wednesday night.
Swiss authorities announce cost-cutting in asylum sector
This content was published on
The government notably wants to improve integration into the labour force, particularly for people with protection status S.
Various leaders confirm participation at Ukraine peace conference
This content was published on
The presidents of Poland, Finland, and Latvia and the prime ministers of Spain and Belgium will be at the Swiss-hosted talks in mid-June.
This content was published on
In the winter season up to April 2024, railway and cable car operators ferried 3% more visitors compared to the previous winter, and 5% more than the five-year average.
Rhine flooding: Swiss to invest CHF1 billion with Austria
This content was published on
As part of an international agreement with Austria, the Swiss government wants to pump CHF1 billion ($1.1 billion) into flood protection measures along the Rhine over the next three decades.
Swiss government proposes CHF10 million UNRWA donation
This content was published on
After months of debate, Switzerland plans to give CHF10 million ($11 million) to the UN agency this year, rather than the CHF20 million initially foreseen.
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.
Read more
More
Study finds Swiss economy is looking up, but risks abound
This content was published on
Switzerland's GDP is on track this year to increase by 2.9%, according to a forecast by Zurich's KOF Swiss Economic Institute published Wednesday.
Swiss complaint over US tariffs to be reviewed by WTO panel
This content was published on
A Swiss complaint to the World Trade Organization (WTO) against United States import tariffs on aluminium and steel will be decided by a WTO panel.
This content was published on
The Swiss watchmaking industry expects a continuing rise in exports next year but is concerned that the US protectionist trade policy.
Trump cancels trip to Davos over government shutdown
This content was published on
US President Donald Trump has cancelled his planned trip to the annual general meeting of the World Economic Forum (WEF) in the Swiss resort of Davos.
Brexit worries to keep Theresa May away from Davos
This content was published on
UK Prime Minister Theresa May, citing domestic concerns, has followed her French and American counterparts by pulling out of this year’s WEF.
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.