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Young Presidents? Organization, Inc.: YPO: CEO confidence in EU at five-year high

2014-08-05 06:01:00
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Optimism returns in eurozone periphery economies

LONDON - 5th August 2014 - Business leaders in the European Union are more

confident about economic and business prospects in the region than at any time

since the 2009 recession, according to a YPO survey of CEOs. The YPO Global

Pulse Confidence Index for the EU came in at 62.5 in July, marginally higher

than its January and April readings.

On the back of continued low interest rates and other stimulus measures

administered by the European Central Bank, the mood amongst EU CEOs has improved

significantly over the last five quarters, with the Global Pulse index gaining a

staggering 11.1 points since April 2013 when it languished at 51.4. Over this

brief period, the European Union has gone from being the most pessimistic region

in the world to being in line with other regions.


"These results, when considered with the readings from the previous two

quarters, suggest that EU business leaders have moved away from the financial

crisis of the near past and are looking ahead to opportunities," said Anastasios

Economou, managing director of iGroup and an executive member of YPO's Greater

Europe Chapter. "What CEOs need to see now is geopolitical stability in Europe

alongside cohesive and credible signs that governments are committed to

promoting private sector activity, so businesses can undertake the level of

investment and hiring needed to sustain the recovery."

Globally, the YPO Global Pulse Confidence Index rebounded from a half-point dip

last quarter, increasing 1.5 points to 64.0. The rising tide was led by a 3.9-

point run-up in Asia and a 4.4-point increase in Canada. With the exception of a

marginal decline in Latin America, every region contributed to the global gain.

Asia returned to its position as the world's most optimistic region. The U.S.

confidence index rose for the third consecutive quarter, to 64.8.

Key findings in the EU

Confidence buoyant in countries threatened by sovereign debt crisis: In the

first quarter of 2014, less than two years after bailouts of Greece and Spain

and the financial shock in Cyprus, the debt-laden eurozone periphery economies

as a group became significantly more optimistic than the core economies for the

first time in five years, a phenomenon that continued into the second quarter.

The YPO Global Pulse eurozone periphery index remained largely unchanged at

62.3, comfortably above the confidence reading of the core economies at 57.4.

Small businesses display most confidence: CEOs of small businesses (less than

100 employees) continued to be more confident than their counterparts within

larger organisations. Fully 70% of small-business CEOs surveyed said turnover

would increase by more than 10% over the next 12 months, compared with 61% of

mid-size companies and 58% of large organisations.

CEOs of small businesses were also more confident about their hiring

expectations over the next year. More than a third (38%) expected to grow

headcount, compared with 25% of CEOs in mid-size companies and 26% in large


YPO Global Pulse Confidence Index

The quarterly electronic survey, conducted in the first two weeks of July,

gathered answers from 2,975 chief executive officers across the globe, including

319 in the European Union. Visit www.ypo.org/globalpulse for more information

about the survey methodology and results from around the world.

About YPO

YPO (Young Presidents' Organization) is a not-for-profit, global network of

young chief executives connected around the shared mission of becoming Better

Leaders Through Education and Idea Exchange(TM). Founded in 1950, YPO today

provides 20,000 peers and their families in more than 120 countries with access

to unique experiences, world-class resources, alliances with top learning

institutions, and specialised networks that help them enhance their business,

community and personal leadership. Altogether, YPO member-run companies employ

more than 15 million people around the world and generate US$6 trillion in

annual revenues. For more information, visit www.ypo.org. Also see us on

Facebook and follow us on Twitter.

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YPO (Young Presidents' Organization)

Mich?le Foster

+33 6 8494 9788 (Europe)


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Source: Young Presidents? Organization, Inc. via GlobeNewswire