Global Economy Still Viewed as Fragile
April 13, 2012
Business, government and civil society officials are expressing greater confidence in the world economy over the next 12 months. However, the Global Confidence Index also shows they believe the economy remains on very shaky ground.
The managing director of the World Economic Forum says the index is a bit more encouraging than the previous quarterly survey. However, Lee Howell says it’s nothing to celebrate.
“I think the Global Confidence Index, in terms of what you saw with the latest results, it’s good news, but it’s relative. Relative to really the great uncertainty and concern that were seen in the last quarter, which, as you know, if we look back in December and January, at the close of last year and the beginning of this year, lots of uncertainty. Particularly around what was happening in the Euro zone,” he said.
Lee Howell, World Economic Forum managing director
This includes the economic turmoil over Greece’s debt and debt concerns in other European countries as well.
Economic, political shocks
The index shows fear of a major economic disruption dropped from 63 percent of the respondents last quarter to 46 percent in the first quarter of this year.
“The survey clearly shows that people are less concerned about a major economic disruption in the next 12 months. However, and this is the big however, is that they’re more concerned about geopolitical shock. And it’s obvious that we live in a world where geopolitical shocks would absolutely impact the geoeconomic space,” Howell said.
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