Bloomberg (gated) The report shows that a key measure of CEO confidence in China has turned pessimistic for the first time since the pandemic. The loss of confidence comes despite the recent announcement of stimulus measures.
Bloomberg reported on a study by the US-based Conference Board:
- Sentiment among executives at mostly American and European companies fell to 49, down from 56 in the previous six months
- a score below 50 indicates despair
- results show lingering concerns about China's economy
CEOs identified China's economic downturn as their biggest challenge, noting that increasing price sensitivity among consumers is squeezing their profits.
This article was written by Eamonn Sheridan at www.forexlive.com.
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