Global recovery: still on the up

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“Global business sentiment has notched a bit higher in recent weeks. Confidence slumped in the wake of the first round of financial turmoil coming out of Europe in the spring, but has held firm during the current wave of investor angst,” according to the results of the latest Survey of Business Confidence of the World by Moody’s Economy.com.

Also, “in contrast to the weakness in the U.S. employment report for November, businesses responding to this survey indicate that their hiring intentions remain sturdy. Equipment investment also continues to be strong. Businesses’ biggest problem is weak pricing, although there is no indication that deflation is a threat”.

Considering the medium term, “businesses do not anticipate a significant acceleration in activity anytime soon, as expectations regarding the outlook into mid next year have shown no meaningful improvement”.

Source: Moody’s Economy.com

Also just out is the Manpower Employment Outlook Survey (via Moody’s Economy.com), indicating upbeat hiring plans from Asian-Pacific and South American firms, painting a brighter picture of the global recovery in the new year.

“Robust growth and high business confidence in emerging economies in South America and Asia are prompting employers to increase hiring. Meanwhile, hiring expectations remained stable in the United States and are not yet strong enough to suggest a fall in the unemployment rate in early 2011,” said the Survey. “German employers continue to lead hiring intentions in Europe as the country’s expansion lifts demand for labour, but debt-troubled economies remain reluctant to hire additional staff.”

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