More than half of chief executives in an annual survey by PwC expect a slowdown ...
DAVOS, Switzerland - More than half of chief executives in an annual survey by PwC expect a slowdown in global economic growth this year, in marked contrast to the confidence that has lifted stock markets.
The survey, published on Monday ahead of the World Economic Forum annual meeting in Davos, found 53% of CEOs around the world forecast the rate of global growth will fall, compared with 29% the year before, the highest level of pessimism since the accounting firm began asking the question in 2012. However, the 1,581 interviews with CEOs in 83 countries were carried out between September and October 2019, before China and the United Stated inked an initial deal resolving some of their trade disputes and other geopolitical risks, such as Britain abruptly exiting the European Union, subsided.
CEOs are also increasingly concerned about cyber threats and climate change, PwC said. More than two-thirds of the CEOs surveyed believe that governments will introduce new legislation to regulate social media content and break up dominant technology companies.
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