A global business confidence survey carried out by the International Trade Council, a six-monthly publication which highlights confidence levels of businesses from 191 countries has released its results for the first half of 2017.
The survey which provides useful information that is generally perceived as more relevant and timely than official statistics is designed to provide a snapshot of business opinions regarding the expected future state of their industry, the national and global economy.
The survey used by businesses, legislative policy-makers, government agencies, industry associations / chambers of commerce surveyed 45 countries as of the 17th September 2017 including countries from developed and developing countries made some useful predictions.
Breakdown of the report showed that expected 12 Month Growth of Domestic Sales was up by 57.41% even as expected 12 Month Growth of International Sales among the countries survey also increased by 48.77%.
Survey on Business Climate Improvement over the Past 12 Months showed remarkable improvement with Improved having 45.68%, stayed the same 24.69%, gotten worse 21.91%, and unsure 4.01%
Expected 12 Month Economic Outlook shows optimism as economic expansion is envisaged to rise by 42.59% while countries with flat economy made 34.57% even as 8.95% are in recession.
However, it’s obvious that the government does not do enough for the Respondent Industry as 47.53% affirmed in the negative as against 17.59% which said that the government does enough now.
On whether Free Trade Agreements Help Respondent Industry, 44.14% said it does, Hurts 13.27%, Makes no difference 29.94% while Unsure was 8.02%.
According to the report, breakdown of Survey Respondents by Industry, Manufacturer was 33.02%, Wholesaler 10.19%, Service Provider 43.83%, Retailer 7.10%, Industry Association / Chamber / Trade Body 2.47%, No answer 0.31% while Not completed or Not displayed was 3.09%.
The survey covers both urban and regional areas and captures different industry sectors of and business sizes (small, medium and large), measures perceptions of the current economic environment and the investment intentions of business, and is a leading key barometer for the economy.
The survey has proven to be very adept at picking economic developments.
By surveying an entire spectrum of business types and sizes from across the globe, government agencies, market analysts and business people can garner a variety of information about business views at different points of the business cycle.