Many CEOs are optimistic about economic growth until 2025.

Economics & Macro

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Adi Ahdiat 07/10/2022 13:00 WIB

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Despite numerous gloomy predictions about the global economy, CEOs worldwide remain relatively optimistic about business growth until 2025.

Proportion of CEOs Optimistic about Economic Conditions Three Years Hence (2020-2022)

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Proportion of CEOs Optimistic about Economic Conditions Three Years Hence (2020-2022)

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Despite numerous gloomy predictions about the global economy, company leaders appear to remain quite optimistic about business growth until 2025.

This is reflected in the KPMG 2022 CEO Outlook report released by the international accounting organization KPMG in October 2022.

During the period of July-August 2022, KPMG surveyed 1,325 Chief Executive Officers (CEOs) or top executives of private companies across 11 countries: the United States, Australia, Canada, China, France, Germany, India, Italy, the United Kingdom, Japan, and Spain.

The survey covered CEOs from various sectors, including asset management, automotive, retail, energy, infrastructure, insurance, manufacturing, technology, and telecommunications.

"All respondents had revenues exceeding US$500 million per year, and one-third of the surveyed companies had revenues exceeding US$10 billion per year," KPMG explained in its report.

From this survey, KPMG found that global CEO optimism had fallen in August 2020, following the impact of the Covid-19 pandemic.

Then, starting in 2021, CEO optimism began to rise again, reaching its highest level of 71% in August 2022, as shown in the graph.

"Despite economic and geopolitical challenges, optimism about the global economy over the next three years has increased," KPMG stated.

However, KPMG also found that the majority of CEOs believe a recession will occur in the near future.

"Almost 9 out of 10 CEOs believe that a recession will occur within the next 12 months. But, 3 out of 5 CEOs feel the impact of the recession will be mild, and the majority have plans to cope with the situation," KPMG concluded.

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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Many CEOs are optimistic about economic growth until 2025.

Many CEOs are optimistic about economic growth until 2025.

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Many CEOs are optimistic about economic growth until 2025.

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