Asian execs regain confidence in economy
Business leaders in Asia have adopted a more cautious outlook than their counterparts in the United States but remain more optimistic than chief executives in the European Union (EU).
The YPO Global Pulse Confidence Index released on Tuesday gives Asia a world-beating composite score of 62.5 after having fallen behind in the fourth quarter of 2016 (4Q 2016).
YPO is a Hong Hong-based organisation focused on executive leadership.
While the overall regional picture was significantly improved, YPO reported, there were marked differences in sentiment across the major economies in Asia.
India reported a more positive outlook, gaining 3.2 points to 66, reversing the dip it experienced in Q4 2016. India remains the most confident among the world’s top 10 economies. Sentiment among business leaders in China remained relatively flat, edging up 0.3 point to 61.6. However, Japan reported a more subdued outlook, slipping 2.6 points to 55.7, following a decrease in consumer spending in the first three months of the year.
“It’s positive to see that business leaders in Asia remain optimistic about the economic climate and the potential for growth, despite uncertainty surrounding the stability of the global economy, and the potential impact of more protectionist US economic policies,” said YPO member Wei Chen, founder and chairman of Sun Capital.
