Index returns to top spot among all regions in the world
SINGAPORE, Aug 5, 2014 - (ACN Newswire) - The YPO Global Pulse Confidence Index for Asia surged nearly 4.0 points to 67.3, returning to a level not seen since April 2011. For the first time in more than two years, Asia is the world's most optimistic region.
"A variety of country-specific factors contributed to the widespread jump in confidence throughout the region," said Terry O'Connor, regional chief executive officer of Courts Asia and an executive member of the YPO Singapore Chapter. "Political changes in India, tempered violence in Thailand and the approval of the 'third arrow' of reforms in Japan served as a backdrop to the regional uplift in sentiment."
Rising business confidence in Japan and India contributed to the regional mood, as did recovering optimism in the fast-growing Asian Tiger Cub economies (Indonesia, Malaysia, Philippines and Thailand), whose composite index increased for the second straight quarter since registering its lowest level in the five-year history of the index. In China, confidence was largely unchanged, with the index slipping 0.7 point to a still lofty 63.4.
Globally, the YPO Global Pulse Confidence Index rebounded from a half-point dip last quarter, increasing 1.5 points to 64.0. The rising tide was led by a 4.4 point increase in Canada as well as the Asian confidence increase. With the exception of a marginal decline in Latin America, every region contributed to the global gain. The U.S. confidence index rose for the third consecutive quarter, to 64.8.
Asian CEOs bullish on investing: For the first time in more than two years, Asian CEOs are the world's most likely to boost capital spending over the next 12 months. The YPO Fixed Investment Confidence Index for Asia jumped 5.6 points to 66.7, comfortably above the global composite level of 62.5. More than half (56%) of the CEOs surveyed in Asia said their capital expenditures would increase by more than 10% by this time next year.
CEOs decidedly upbeat about short-term business conditions, long-term sales: Asian CEOs conveyed continued confidence about economic conditions over the next six months with 68% of survey participants expecting conditions affecting their companies to improve by year end. Looking forward 12 months, CEOs are particularly optimistic about the outlook for sales, with 79% anticipating a pickup in revenues.
YPO Global Pulse Confidence Index
The quarterly electronic survey, conducted in the first two weeks of July, gathered answers from 2,975 chief executive officers across the globe, including 329 in Asia. Visit www.ypo.org/globalpulse for more information about the survey methodology and results from around the world.
YPO (Young Presidents' Organization) is a not-for-profit, global network of young chief executives connected around the shared mission of becoming Better Leaders Through Education and Idea Exchange(TM). Founded in 1950, YPO today provides 20,000 peers and their families in more than 120 countries with access to unique experiences, world-class resources, alliances with top learning institutions, and specialised networks that help them enhance their business, community and personal leadership. Altogether, YPO member-run companies employ more than 15 million people around the world and generate US$6 trillion in annual revenues. For more information, visit www.ypo.org. Also see us on Facebook and follow us on Twitter.
YPO (Young Presidents' Organization)
+33 6 8494 9788