5 The initial online survey was in the field from March 6 to March 10 and garnered responses from 931 participants the second online survey was in the field from March 27 to March 31 and garnered responses from 871 participants. For our most recent McKinsey Global Survey on economic conditions, we surveyed executives twice in March-right before the upheaval in the banking sector, starting with the closure of Silicon Valley Bank (SVB), 4 Our initial survey closed on March 10, 2023, the same day that US regulators took over Silicon Valley Bank after a run on deposits, so those responses did not reflect sentiments related to this event or to subsequent bank runs and rescues. What a difference several weeks can make. Meanwhile, concerns about financial-market volatility as a risk to growth have increased. Forty-eight percent say economic conditions at home have improved in the past six months, up from 40 percent last quarter.Įxecutives’ enthusiasm for the economy rose-and then came back to earth. Overall, respondents report more positive views on their home economies than they have in the past year (Exhibit 1). Improving views on domestic conditions, with some regional differences Their responses also suggest an evolving perspective on the interest rate environment, with the smallest share of executives since June 2021 expecting their countries’ interest rates to increase. While geopolitical instability and inflation still predominate as risks to both domestic and global growth, respondents note some emergent risks to growth in the world economy. respondents share brighter views about the current state of their own countries’ economies and the world economy, as well as an increasingly optimistic global outlook. To adjust for differences in response rates, the data are weighted by the contribution of each respondent’s nation to global GDP. In our latest McKinsey Global Survey on economic conditions, 1 The online survey was in the field from June 5 to 9, 2023, and garnered responses from 1,044 participants representing the full range of regions, industries, company sizes, functional specialties, and tenures. For the first time in more than a year, global executives are more positive than negative about conditions in the economy.
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