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PwC Survey: Optimism in 2Q Dropped

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  • Description

    PwC Private Company Services partner Ken Esch on the dip in private company optimism.

  • Duration 2:42
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-- temperature private businesses in price Waterhouse Coopers latest quarterly survey things are looking downright chilly.

In the second quarter businesses are less optimistic about world economic growth.

Less optimistic about US economic growth and fewer firms plan to add to their workforce.

That's all compared to the first quarter Ken ash is a partner he -- BC's private company services can welcome to you.

Any -- place these survey results the pretty brutal right.

There's not a pretty picture here -- and fortunately two to report.

As optimism levels were down 10%.

From sixty to fifty for domestic only companies.

And on the international side it was even worse with optimism levels only registering at 23%.

And again not a pretty picture.

As we talk to our clients.

There are several skin is consistent themes one is really the lack of demand for products and services.

And really that companies are pointing to a couple of -- critical issues out there in the economy I want to sources this continued economic Malays in and Europe.

The second on the domestic front.

This fiscal -- that's looming here at the end of -- calendar year.

And then that has -- we see that recent reports here continued slowing in the Asia economies.

Right right right -- -- coming here because.

I wanna get your take on some economic data that we had today -- which -- being dovetails beautifully into your survey results the empire state manufacturing survey.

Found that so many of their respondents point two -- certainty.

And certainty as the main reason they're not hiring they're not.

Doing capital expenditures and that's really the number one -- another reason doesn't even come close you've got something like 51 point 8% say.

And -- influencing spending plans.

52% of respondents said increasing and certainty influencing.

They're hiring plans so.

Once I get this survey just today I mean this is been going on for years you must be hearing something similar.

We are -- The same you know types of themes and the reason you know that there is that's and certainly isn't as we mentioned is just.

They continued.

To economic Malays both in Europe.

In the US and now it's looking like -- Asia as well it's not even Iraq -- it's not even funny to blame on politics right because -- -- firm numbers.

I I don't you know blame -- on on politics politics are definitely a factor with the fiscal crisis -- -- you know here in the US we would love to see a little bit more certainty from congress.

As to what the tax picture is gonna look like in the spending picture.

-- that's not likely to happen until after the election okay.

Ted thanks for sharing your survey results he with -- back with that more rosy outlook next time tenants with.

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