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Executive Confidence in Global Economy Diminished, McKinsey Reports

06/21/2010
The volatility of the Euro has diminished the confidence of executives around the world, McKinsey finds in its Economic Conditions Snapshot. The survey of executives across the globe reveals that 18 percent of those queried expect troubled global markets to overshadow domestic economic gains, nearly double the amount since a survey two months ago.

Despite a negative outlook on the global economy, most executives reported that their companies were reasonably stable. But those surveyed worried that low consumer spending would challenge growth.

Eurozone executives were the least positive about the present and future of their countries' economies. Only 46 percent expected their domestic economies to improve over the next six months. Outside the eurozone, 69 percent of executives said their countries were recovering, but only 39 percent said the same for the global economy.

Despite global economic concerns, more executives were positive than negative on the financial outlook. Approximately 70 percent expect increased profits this year.

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