Bloomberg News

Survey of ‘Experts’ Shows 70% Pessimistic About World Economy

November 16, 2011

Nov. 16 (Bloomberg) -- A survey of more than 1,000 “global experts” from business, government, international organizations and academia found that 70 percent are pessimistic about the world economy, according to the World Economic Forum.

The level of concern about the economic outlook had not improved from a similar survey three months ago, the Geneva- based forum said today in an e-mailed statement. The respondents who view a “major societal disruption” as being likely or very likely in the next 12 months rose to 60 percent from 50 percent in the last survey, according to the report.

The so-called Global Confidence Index survey also found increased optimism about global cooperation, with one-third of the participants expressing confidence, up from one-fifth three months ago. The respondents are members of the forum’s Network of Global Agenda Councils, which includes policy makers, academicians and business leaders.

“Looking at the European situation, it seems clear that optimism in the global economy will return when structural economic challenges are met with credible political solutions,” Lee Howell, head of the Forum’s Risk Response Network, which publishes the annual global risks report, said in the statement.

The next Global Confidence Index will be published on Jan. 23, before the start of the World Economic Forum’s 2012 annual meeting in Davos, Switzerland.

--Editors: William Ahearn, Peter Eichenbaum

To contact the reporter on this story: Christine Harper in New York at charper@bloomberg.net

To contact the editor responsible for this story: Rick Green at rgreen18@bloomberg.net


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