Asian firms’ business confidence bounces-off 10-year lows - Thomson Reuters/INSEAD survey
|According to the latest Thomson Reuters/INSEAD survey, the business morale among the Asian firms bounced from the lowest since the 2008-09 financial crisis in the September quarter. However, the business outlook looks gloomy amid lingering global recession risks.
Key Findings:
The Thomson Reuters/INSEAD Asian Business Sentiment Index tracking firms’ six-month outlook rose five points to 58 in the survey.
The latest showing, though, means the index has not risen above the mid-60s for a year and is one of the seven weakest readings since the 2008-2009 global financial crisis.
Respondents rated a global recession as the top risk, overhauling trade-war fears which had topped the table for the previous six quarters.
Antonio Fatas, a Singapore-based economics professor at global business school INSEAD, said: “We are in a state of almost permanent uncertainty, which is not leading yet to a crisis but I think at some point we are going to see the cost of it. “Some investments are going to be postponed, some investments are going to be stopped and little by little the engine of growth is going to slow down.”
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