Business optimism at record high globally, research shows
Business optimism has reached a record high globally, with the US in particular experiencing a surge at 80 per cent, according to the International Business Report from professional services network Grant Thornton.
The report surveyed 2,400 businesses in 36 economies and found that business optimism has risen to its highest level going into the second quarter of 2017.
Canada and Mexico have both experienced a rise in business optimism, increasing from 33 per cent to 59 per cent and 8 per cent to 32 per cent respectively, whilst optimism amongst businesses in countries across the EU has increased from 34 per cent to 39 per cent.
The report also showed that business optimism has reached a seven-year high in the Philippines, rising to 98 per cent in the first quarter from 56 per cent in the same period in 2016 and up from 80 per cent in the fourth quarter of last year.
Malta, India and the Netherlands have also experienced a surge in business optimism, rising to 86 per cent, 85 per cent and 84 per cent respectively.
P&A Grant Thornton Chairperson and Chief Executive Officer Marivic Espano commented: “We’ve witnessed a split between the developed and emerging Asia-Pacific regions for some time now, so it’s encouraging to see the region’s developed economies experience a positive swing in the pendulum.”
Espano added that with the confirmation of the US’s withdrawal from the Trans-Pacific Partnership, businesses are now able to begin to manage the fallout. Many businesses will look to see how trade relations with the US pan out and, in the meantime, the corridor to China for exports appears positive as its economy continues to recover.