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Worldwide Business Confidence Falls

Worldwide business confidence has fallen back to its financial crisis lows, with sharp declines in optimism in both the U.S. and China, according to an economic sentiment survey by Markit.

The report, which surveys around 11,000 global manufacturers and service providers, found that business optimism darkened in the first half of this year, dropping back to levels not seen in four years. The net balance of companies predicting rising business activity over the next twelve months fell to 30 percent in June, a low reached only twice before: in late 2009, and October 2012.

“The global economy is clearly in a soft-patch again, largely reflecting darker outlooks in the U.S. and China,” said Chris Williamson, chief economist at Markit.

CNBC [1]

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