Global confidence joint-highest in three yearsStaff Writer | July 18, 2017
Optimism among global firms around the outlook for business activity has held steady in June compared to the two-and-a-half year high seen earlier in the year.
Global business IHS Markit Global Business Outlook
Inflation expectations meanwhile have eased slightly relative to the start of the year.
The highest degrees of optimism in the developed world are seen in the eurozone, albeit down on levels registered earlier in the year.
Firms’ confidence levels regarding future business activity meanwhile are up to a three-year high in the US and the strongest for over four years in Japan.
In contrast, a substantial drop in business optimism is noted in the UK, the lowest since late-2011, amid heightened political uncertainty in the immediate aftermath of the country’s general election.
In the largest emerging markets, the most buoyant mood is recorded in Brazil, reflecting the country’s long-awaited climb out of recession.
The biggest slide in optimism is seen in China.
Global manufacturers remain more upbeat regarding activity than service providers, though confidence levels are up in the latter and down in the former.
Job creation in services looks set to outpace growth of manufacturing jobs, while sentiment about profitability is identical across both industries. ■