The slowdown in world economies has battered the confidence of company heads about the future prospects of their businesses as they expect a slow, gradual recovery over the next three years, a global survey by PricewaterhouseCoopers has said.
Confidence of chief executive officers plunged to its lowest level since 2003, when PwC began tracking CEOs' forecasts.
Worldwide, just 21 per cent of CEOs said they were very confident of revenue growth in the next 12 months, down from 50 per cent in last year's survey, while more than a quarter of the executives said they were pessimistic about prospects for the coming year.
The survey results were released at the World Economic Forum annual meeting in Davos, Switzerland.
Image: Icicles hang from the roof of the Davos Congress Center, the venue of the World Economic Forum. | Photograph: Denis Balibouse/Reuters
Text : PTI
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