Also in this playlist...
This transcript is automatically generated
Thanks so much so PW see your price Waterhouse Cooper is -- at their annual survey of more than 160 CEO's -- out.
Executives are more optimistic than they were last year.
But compared to but Bob emirates has its finger on the -- the businesses as the chairman and senior partner PW -- he joins us now with more details.
From this survey so I was you know I I -- through this insolvent you know -- more optimistic.
Half the CEOs you spoke to think that the economy is gonna stay flat right.
That's that's better than -- their outlook was that was gonna can track.
Yeah I think the reality is its ability of discussion -- -- that would say are they more pots and are -- more optimistic or they less pessimistic.
Last year more than half -- move up economist gonna come down.
Half of them this year think economy's gonna stay the same so causes them a different friend on line in terms of how they think about their opportunities going forward.
-- you know -- -- when you look at consumers and consumer sentiment a lot of people think that this is the new normal they don't see the economy ever going back to the boom that it was before sort of depressing to me but it's closer to similar.
I mean CEOs are quite that pessimistic but they're saying it's just gonna be the same.
Yeah that's going to be the same for them and what's really interesting in this year's survey is there confidence -- level -- confidence to be able to grow revenues over the next year is actually down from last year.
-- even though they're less pessimistic or maybe more optimistic their confidence the sake and I well.
It's primarily driven off the fact that they've looked out in the future and so this is a low growth environment the new norm.
And as a result they're all competing for the same market share which typically is the pricing pressure.
So there's not a bigger -- growing it's rather how we slice up the fight today.
-- it's interesting to hear that -- of the fact that they you know the stock market is back to its historic highs yet.
I eat a lot of that is driven by profits at companies but now they're saying they are now they have that leverage any longer.
I was interested -- that.
They feel like they're seeing slowing growth in the brick countries friend but hope is coming from beyond.
Vote yes so this year you see actually in the brick countries historically a slow down a little bit he'd probably have some more optimism coming out of China in terms of what's happened the last six months.
But they're moving into the next generation the next generation being a Malaysia and Indonesia and Africa Turkey in the like.
And a lot of corporates are focusing on that rising consumer for an opportunity in terms of how they diversify -- revenue stream and go after that growth.
That's fascinating I'm looking at the consumer here at home and focusing on what's going on here in holding things back.
They are worried about the impact of higher taxes on the consumer 77% of the American population father paychecks shrink -- -- -- Indeed the US CEOs have two primary focus in terms of the negative side equation one -- the debt issue that's still the number one issue in their mind and second is the tax issue.
In terms of the uncertain and that's there in the belief it's going nowhere but north at this point in time so that's causing and it's still be again less confident still have been uncertainty.
But there's a big hope in terms OK can we actually finally put the issue squarely on the table might get some progress as we look over the next year so.
CEO's head of -- put into words how they think the debt is -- impact them because a lot of times that's a relationship that it's hard to communicate to the average person -- is a huge government debt impact business.
At the end of the day they all see the issue being that we've got so much debt on the government's balance sheet right now that at some point -- -- -- to cut back on spending as both stimulus.
And when you think about the dollars that have been injected -- the system some -- that's gonna have to get cut back as well so that's the concern in terms of doesn't that could have a a question mark on the consumer.
And does that also put a question mark and how much investment they should actually be put putting forth.
So they really are already connecting the dots and saying someone has to -- -- -- someday and it and it's gonna be -- -- it's going to be my customer.
I also thought it was adjusting to 68% of US CEO's seat of building a skilled workforce.
Should be the government's top priority -- government gonna do you.
-- of the challenge they have is that they don't see the long term skills that creation.
That is actually gonna label them for sustainability and the financial literacy or lack thereof coming out of there -- the basic skill sets even through the K through twelve grades a big challenge right now.
So the question on the CEOs mind is how much do I have to continue to invest.
To supplement what my basic education and schooling system -- lower education higher education should be doing today.
So they're looking at what they're gonna have to do to fix the problem themselves yeah what you're seeing now is more companies saying listen I'm just gonna think about education as an extension once they leave the classrooms I've got to help with the education once they come in in -- organization's well.
Yes and they do because you can't depend on the government out Lavrov my Liberal Party unless public and private is really important in this space -- always great thank you so much so much information and -- heart -- right appreciate it thanks very much.
And -- week.
Filter by section