Global economy – expanding close to potential

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“Global business confidence held firm at the end of June, consistent with a global economy that is expanding at close to its potential. Sentiment has remained more or less unchanged since mid-April, suggesting that the European debt crisis has not appreciably impacted global growth prospects, at least not so far,” according to the results of the latest Survey of Business Confidence of the World by Moody’s Economy.com.

Other features of the Survey are:

•  The continued strengthening in sales and most recently in hiring – both sales and hiring are back to where they were in 2007 prior to the financial crisis and Great Recession.

•  Following the trend of the past year, South American businesses are the most upbeat, while North American businesses are the most cautious.

Source: Moody’s Economy.com

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