Asian business confidence near 3-year low on trade worries - Thomson Reuters/INSEAD survey
According to the latest Thomson Reuters/INSEAD survey, the business confidence among the Asian companies remains near three-year lows amid US-China trade risks.
Key Findings:
“Representing the six-month outlook of 84 firms, the Thomson Reuters/INSEAD Asian Business Sentiment Index edged up to 63 in the October-December quarter, slightly above a near three-year low of 58 seen in the previous period.
Antonio Fatas, a Singapore-based economics professor at global business school INSEAD, noted: “This confirms the reading of the previous quarter: there is more uncertainty, there are increasing concerns about growth. This doesn’t mean there is going to be a crisis over the next quarters, but if there is one, this is an indication that it wouldn’t be a large surprise to some.”
Once again, a global trade war was cited as the chief business risk by respondents. A slowdown in the world’s second-biggest economy China and higher interest rates were also cited as risk factors.
The survey was conducted in 11 Asia-Pacific countries, across a range of sectors from Nov. 30 to Dec. 1.”
Author
Dhwani Mehta
FXStreet
Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.
