Worldwide business confidence slumped to a five-year low, with company hiring and investment intentions at or near their weakest levels in the post-global financial crisis era, according to a new survey.
“Clouds are gathering over the global economic outlook, presenting the darkest picture seen since the global financial crisis,” said Chris Williamson, chief economist at Markit.
The number of companies expecting their business activity to be higher in a years’ time exceeded those expecting a decline by just 28 percent. This was below the net balance of 39 percent recorded in the summer, the Markit Global Business Outlook Survey showed.
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