Market news

21 January 2020

Global business pessimism about the economy has risen to a record - PwC

The PwC audit and consulting network has recorded a sharp increase in pessimistic business sentiment about global economic growth. The share of chief executives of major companies expecting the global economy to slow in 2020 has increased to 53% compared to 29% a year ago, according to the results of a traditional PwC survey published at the world economic forum in Davos.

"Never since 2012, when we started asking this question, have there been so many pessimistic respondents among company executives," PwC says.

The increase in negative business expectations does not coincide with the forecasts of leading global institutions: they believe that the world economy has passed the lowest point of the cycle in 2019 and will accelerate slightly in the new year. The forecast of the UN Conference on trade and development is 2.5% growth in 2020 against 2.3% in 2019. The world Bank this month also predicted an acceleration in global growth to 2.5%.

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