The slowdown in confidence could be due to several factors: a rise in oil prices, several expected and unexpected rate cuts by central banks, a rebound in Western consumer sentiment, and the stock market crash in China.

Basic CMYK

The GECS reports a “growing sense that the global economy is moving into a sustained recovery” but notes that firms were still quick to cut staff when faced with uncertainty: 41% of respondents said that their firm had cut staff or halted recruiting in the second quarter—nearly twice the number that increased staff levels in the same period. About 46% of respondents cite the impact of rising costs as the driving concern for uncertainty, followed by decreased income (38%) and negative impact of foreign exchange movements (32%).

Read the full report at

About the Authors