Thu, Jan 24, 2013 - Page 15 News List

CEOs downcast on growth: poll

DAVOS:Only 36 percent of CEOs said they were ‘very confident’ that their business would grow this year, amid concern over government tax and spending policies

AP, DAVOS, Switzerland

“We’ve got to start to rebuild that trust,” Nally said.

CEOs may be turning more introspective now that the world has escaped, at least for the time being, another financial meltdown. A US economic recovery seems to be expanding. Central banks — especially the European Central Bank — have helped ease Europe’s three-year financial crisis, and governments in countries such as Spain and Ireland have stepped in to rescue their banks from the risk of collapse from bad property investments.

Yet the survey found that only 18 percent of the CEOs predict an economic improvement this year, and more than a third of them worry that a lack of trust in their industries puts their company’s growth at risk.

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