CEOs have higher hopes this year, according to a new report from PwC.
Industrial manufacturing CEOs are more confident than last year. 37% of industrial manufacturing CEOs believe that the global economy will improve in the next 12 months, compared to just 19% last year.
And while a third expected to see the economic situation worsen last year, this year only 5% are anticipating a global decline.
Additionally, more than three-quarters of top management is worried about a slowdown in high-growth markets (76%), and almost as many (72%) are concerned that continued slow or negative growth in developed markets could put a damper on future prospects.
Energy and labor costs are also on the list of issues to watch.
Findings from the report, 17th Annual Global CEO Survey include:
- 70% of IM CEOs are concerned about high and volatile energy costs
- IM CEOs believe technological advances (81%) and global shifts in economic power (60%) will transform their businesses in the next 5 years
- 68% of IM executives are concerned about rising labor costs in high-growth markets
- 60% of IM CEOs see resource scarcity and climate change as a transformative trend that could play a huge role in business
- More than three-quarters see a need to change their approach to managing risk but only 31% have a change program underway or completed and just 29% believe their risk management function is well-prepared to execute their future plans