Country for PR: United Kingdom
Contributor: PR Newswire Europe
Thursday, August 06 2020 - 17:00
The Global Business Barometer improved for the second straight month, with the 3-month outlook for many industries moving from "much" to "somewhat" worse
LONDON, Aug. 6, 2020 /PRNewswire-AsiaNet/ --

- Executive sentiment about the three-month outlook for the global economy rose 
to -16.8 from -27.7 in May  (out of a range of -50 to +50) 
- China is the first economy covered by the barometer to tip into positive 
territory, registering a reading of +2.0  
- Only 8.1% of respondents strongly agree that their country is ready to open 
and 6.7% strongly agree their company is ready to return to normal operations 

Economic recoveries from crises such as the covid-19 pandemic come in many 
shapes. The hope everywhere is always that they will be V-shaped, but Us are 
the next best thing. Volatile Ws and the dreaded L are the worst-case 
scenarios. The latest Global Business Barometer, based on a survey and analysis 
conducted by The Economist Intelligence Unit and supported by SAS, shows that 
as of late June the possibility of U-shaped recovery remains possible. 

Ticking closer to positive: The overall barometer reading for the global 
economy reached -16.8, the closest it has been to positive territory yet. 
Respondents in Latin America and the Asia Pacific led the way, with +18.5 and 
+4.0 improvements respectively. Sentiment about the global and regional 
economies in North America barely budged from the previous barometer, rising by 
+1.5 and +0.2 points, making it the most pessimistic on both accounts. 

China, the first economy to turn positive: The three-month outlook for the 
Chinese economy among China-based executives tipped into "somewhat better" in 
June, though only just at +2.0. This still makes it the first economy to do 
since the GBB began in April. The change in sentiment is in stark contrast to 
the last GBB when the outlook there soured by -21.9, by far the most among the 
twelve main economies surveyed.  

The road, less traveled:. Only 8.1% of respondents to the June GBB survey 
"strongly agree" that their country is ready to open and only 6.7% "strongly 
agree" that their company is ready to return to operating as it had done before 
the pandemic. Those figures are chilling whether you read them as recognition 
of the scale and scope of the problem or an indictment of global and 
country-level responses to covid-19 (or some combination of the two). For them 
to improve will require more leaders and policymakers around the world to 
demonstrate to everyone that they can be more effective in containing the 

About the research

The Global Business Barometer [ 
]gauges sentiment towards current events and financial market uncertainty and 
explores how businesses are coping today and planning for the future. 

About The Economist Intelligence Unit

The Economist Intelligence Unit is the thought leadership, research and 
analysis division of The Economist Group and the world leader in global 
business intelligence for executives. We uncover novel and forward-looking 
perspectives with access to over 650 expert analysts and editors across 200 
countries worldwide. More information can be found on Follow us on Twitter 
[ ], LinkedIn 
[ ] and 
Facebook [ ].

About SAS

SAS [ ]is the leader in analytics. Through innovative 
software and services, SAS empowers and inspires customers around the world to 
transform data into intelligence. SAS gives you THE POWER TO KNOW®.

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Source:  The Economist Intelligence Unit