EU business optimism in China at all-time low: Survey
Published on May 30, 2013 5:14 PM
BEIJING (AFP) - Optimism about profitability among European companies in China has fallen to an all-time low, a survey showed on Thursday, with only 29 per cent saying the outlook was positive in the world's number two economy.
The statistic in the European Union Chamber of Commerce in China poll of more than 500 of its members was down from 34 per cent last year and the lowest since the first survey in 2004.
"Financial performance is worsening and optimism about profitability is at its lowest ebb," Mr Davide Cucino, president of the European Chamber, said in a statement.
The survey, which was carried out in March, showed 64 per cent of respondents reported profitability for 2012, down from 73 per cent in the previous year.
To continue reading, log in if you are a subscriber
If you are not a subscriber, you can get instant, unlimited access here