New Delhi: A survey of more than 1,300 chief executive officers (CEOs) in the world’s largest businesses shows that next year, 86 percent of these global leaders anticipate a recession. However, 58 per cent of these leaders expect the slowdown to be mild and short. Fourteen percent of senior executives identify recession as one of the most pressing concerns today – slightly up from early 2022 (9 percent), while pandemic fatigue tops the list (15 percent), the survey said. It is stated in – KPMG 2022 CEO Outlook.
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During the survey, these leaders were asked about their strategies and approaches. The survey said that next year, 8 out of 10 (86 per cent) global CEOs anticipate a recession will hit 71 per cent, with 71 per cent predicting that it will affect company earnings by 10 per cent.
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A strong majority of senior executives believe that the slowdown will hamper anticipated growth (73 per cent). However, three quarters (76 per cent) have already taken precautionary measures before the impending slowdown. Despite these concerns, senior officials feel more confident about the economy’s resilience in the next six months (73 per cent). ) than they did in February (60 percent), when KPMG surveyed 500 CEOs for its CEO Outlook Pulse survey.
In addition, 71 percent of leaders are confident about the growth prospects of the global economy over the next three years (up from 60 percent at the beginning of 2022) and 9 out of 10 (85 percent) are confident about the growth of their organization. in the next three years.
“Tested by enormous challenges in quick succession – a global pandemic, inflationary pressures and geopolitical tensions – it is encouraging that the CEOs surveyed in our 2022 CEO Outlook were relatively optimistic in their companies’ resilience and their growth prospects. Bill Thomas, KPMG’s Global Chairman and CEO, said. Some of the CEOs surveyed included Maria Dolores Dankausa of Bankinter, Nicola Downing of Ricoh Europe, Alexis George of AMP, Takahito Tokita of Fujitsu and TV Narendran of Tata Steel.