Global Economy Fuels More Optimism than U.S. Economy

It’s good to hope for the best, as long as you don’t forget to expect the worst. According to the ABF Journal, the results of the Business Council Survey of CEOs indicate that top executives are more optimistic about the future of the global economy than that of the U.S economy. The vast majority of them believe that the global economy will grow at the same pace as 2012, while 60% expect that growth will quicken. Most expect conditions to improve the most in China, at 57% of respondents compared to 30% on the last survey.

The U.S. economy results showed that confidence is down because of factors such as the fiscal cliff deal, sequestration, and the long-term deficit issue. The article states that “only 14.5% of those surveyed believe that the fiscal cliff deal did anything to solve long-term problems. Eighty% of those surveyed do not believe that the agreement was a meaningful step to resolving the deficit issue, and 84% believe it relied too much on taxes and too little on spending reform.”

While it is good that CEOs are optimistic about global prospects, improving confidence and optimism at home is extremely important for moving the economy forward.

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