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Top CEOs less gloomy about global economy: Survey

Published on Jan 23, 2013 6:17 AM
 
Traders work on the floor of the New York Stock Exchange (NYSE) in New York, January 2, 2013. US stocks shot up Wednesday on news of a fiscal-cliff deal in Congress that prevented most tax increases and delayed sharp spending cuts. A half hour into trade, the Dow Jones Industrial Average was up 263.18 points (2.01 percent) at 13,367.32. The tech-rich Nasdaq Composite added 80.27 points (2.66 percent) at 3,099.78, while the broad-market S&P 500 gained 30.24 (2.12 percent) at 1,456.43. In the first trading day of the new year, Wall Street joined a global equities rally celebrating the passage of a bill that avoids the "fiscal cliff" of automatic spending cuts and tax increases. -- PHOTO: AFP

DAVOS, Switzerland (AFP) - Top business leaders are less gloomy about the prospects for the global economy than last year but hardly brimming with confidence for 2013, according to a major survey released on the eve of the Davos forum.

International chief executives are also less confident than last year about growth prospects for their own companies, according to the survey of 1,330 CEOs conducted by financial services firm PricewaterhouseCoopers.

Only 28 per cent of CEOs said they expected the global economy to decline further in 2013, against 48 per cent last year, while 52 per cent expected it to remain stable.

But only 36 per cent said they were "very confident" in their company's growth prospects in the next 12 months, down from 40 per cent last year and 48 per cent in 2011.

 
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