YPO Global Pulse Survey: EU business leaders the most confident in the world
(Thomson Reuters ONE) -
LONDON - 1(st) November 2016 - YPO, the premier chief executive leadership
organization in the world, announced today that economic confidence amongst
chief executives in the European Union bounced back in the third quarter of the
year, with EU business leaders now reporting the highest levels of confidence in
the world.
The YPO Global Pulse Confidence Index for the EU jumped 2.2 points to 60.7,
reflecting a striking level of optimism and ranking the EU as the most confident
region in the world. The EU surpassed both the United States and Asia in
confidence scores, and landed 1.5 points above the global score of 59.2. This
positive economic outlook reverses the decline in the second quarter of the
year, which followed the United Kingdom's decision to leave the European Union.
The increase in confidence across the EU was bolstered by an upturn in
confidence among the three largest economies in the region. Germany reported a
significant upswing in confidence, jumping 3.6 points, from 55.5 to 59.1. France
saw a more modest rise, climbing 1.0 point to 59.7, its highest level since
April 2015. The United Kingdom also reported an improvement in confidence,
gaining 1.6 points to land at 59.5. Having slumped 5.0 points in the previous
quarter, confidence bounced back amongst British business leaders, as it became
apparent that any meaningful moves to withdraw from the EU will not take place
for several years. A fall in the value of the British pound also improved
conditions for U.K. exporters.
Elsewhere, Spain also reported more positive economic sentiment, moving up 2.6
points from 64.3 to 66.9. Italy bucked the trend within the region, crashing
7.7 points from 63.4 to 55.7.
"There is obviously still a huge amount of uncertainty across Europe, following
the U.K. referendum result and continued concerns about the financial stability
of several economies in the region. However, business leaders have recognised
that the real impact of Brexit is unlikely to be felt for some time and the
current economic climate still offers strong opportunities for growth and
investment," said Nikolaus Weil, Managing Partner of MindEx and a member of the
YPO Berlin Chapter. "As chief executives in the EU look forward to 2017, they
will be keeping a close eye on the political situation and monitoring key
economic indicators."
Globally, the YPO Global Pulse Index fell by half a point to 59.2 for the third
quarter of 2016. Confidence held steady in the United States, edging down just
0.4 point from 60.8 to 60.4. Asia fell 2.9 points to land at 60.0, as the
world's three largest economic regions reported confidence levels within one
point of each other. Elsewhere, confidence in Latin America increased by 1.5
points to 55.9, whilst the Middle East and North Africa fell 2.0 points to
53.9, making it the most pessimistic region in the world. Africa reported a more
positive outlook, climbing 1.7 points to 55.5, its highest level since July
2015.
Key findings in the EU
Confidence rebounds among British business leaders
Having seen a sharp drop in confidence in the second quarter of the year,
following the U.K.'s decision to leave the European Union, there was a slight
upturn in sentiment in the third quarter.
When asked to assess whether business and economic conditions would improve over
the next six months, half (50%) of U.K. chief executives expected conditions to
stay the same, whilst 30% predicted an improvement and 20% forecasted a
deterioration. This compares favourably to the previous quarter when, in the
immediate aftermath of the U.K. 'Brexit' referendum, nearly half (49%) of
respondents expected conditions to worsen in the following six months and only a
quarter (26%) predicted an improvement in the economic climate.
EU chief executives bullish about the year ahead
Business leaders in the EU reported improved levels of confidence in each of the
three main indices of the YPO Global Pulse Index, tracking sales, hiring and
fixed investment, and they remained bullish about the expectations for their own
organisations over the next 12 months.
Almost two-thirds (64%) predicted revenue growth over the next year, more than a
third (36%) forecasted increased headcount and 39% expected greater levels of
fixed investment.
YPO Global Pulse Confidence Index
The quarterly electronic survey, conducted in the first two weeks of October
2016, gathered answers from 1,625 chief executive officers across the globe,
including 216 in the European Union. Visit www.ypo.org/globalpulse for more
information about the survey methodology and results from around the world.
# # #
About YPO
YPO is a global community of chief executives dedicated to becoming Better
Leaders through Lifelong Learning and Idea Exchange(TM). We create trusted
spaces where leaders gather, connect, share and grow. The YPO platform provides
more than 24,000 members in more than 130 countries - representing diversified
industries and types of businesses - with access to extraordinary educational
opportunities, alliances with leading institutions, and interest-based
communities to support their businesses, communities and families. For more
information, visit www.ypo.org.
Contact:
YPO
Linda Fisk
Office: +1 972 629 7305 (United States)
Mobile: +1 972 207 4298
press(at)ypo.org
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Young Presidents? Organization, Inc. via GlobeNewswire
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