UPworld :: Confidence Barometer

Ernst & Young, a global leader in assurance, tax, transactions and advisory services recently reported key findings of their seventh Global Capital Confidence Barometer that leading companies see little immediate prospect of a recovery for the global economy. The regular survey of senior executives from large companies around the world included a panel of more than 1,500 executives surveyed in August and September 2012 (with representatives from companies from 41 countries?- 754 CEO, CFO and other C-level respondents and 400+ companies that would qualify for the Fortune 500 based on revenues participated).

With a recovery taking longer than expected to arrive, companies are focusing on bottom-line improvements. The situation has stabilized in some markets, but most executives expect this downturn to endure for at least a year, while many economists think it could persist for three years or more. Despite strong fundamentals for deals, including rising cash stock piles and adequate credit, there is a lesser appetite for acquisitions and divestments compared with any previous edition of this barometer. Contributing to the lack of confidence around M&A activity is the sentiment by many executives that acquisition targets are over-priced.

Companies are refocusing on the basics.? Cost reduction, performance improvement, capital allocation, and targeted organic and inorganic growth initiatives dominate the boardroom agenda. Those who execute in a disciplined way will be best positioned when economic confidence returns.

(Some Key Findings - 78% think the global economy shows no signs of improvement; 66% expect the downturn to persist for more than one year; 44% view credit availability as stable.)

Source: http://www.upworld.com/blog/business-practices/confidence-barometer

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