Global business gloom
From The Economist’s survey for July 2012:
GLOBAL business sentiment has worsened sharply, according to the latest Economist/FTsurvey of over 1,500 senior executives, conducted by the Economist Intelligence Unit. The balance of respondents who think the world economy will improve over those who think it will worsen fell from minus 5 percentage points in April to minus 25 in July…. Overall, 42% of executives now reckon business conditions will worsen… that Europe’s biggest problem will be economic uncertainty. More than 60% believe economic conditions in the euro area will get worse in the next six months….
source: The Economist, August 16th 2012, http://www.economist.com/blogs/graphicdetail/2012/08/daily-chart-1
Since the public debt problem in Europe and North America will linger for many years to come, the gloom will most likely stay in the medium term.