Bloomberg (gated) carry the report showing a key measure of CEO confidence in China has turned pessimistic for the first time since the pandemic. The loss of confidence comes despite recent stimulus measures being announced.
Bloomberg reported on a survey by the US-based Conference Board:
- sentiment among executives of mostly American and European companies fell to 49, down from 56 in the previous six months
- score below 50 indicates pessimism
- findings reflect ongoing concerns about China’s economy
CEOs identified China’s economic slowdown as their biggest challenge, noting that rising price sensitivity among consumers is squeezing their profits.
This article was written by Eamonn Sheridan at www.forexlive.com.
