6 | PwC’s 21st CEO Survey Ehiit 3 CEOs are more cautiously confident in their own growth prospects in 2018, We have only to look past frantic geopolitical a steady recovery that looks set to continue except in North America headlines to current economic indicators to in 2018. Even the UK economy, while slowing understand the reason why. When all the this past year, has not yet been severely Q How confident are you about your organisation’s prospects for revenue growth over the next 12 months? data is in, 2017 will almost certainly turn out impacted by Brexit.2 to be the best year the global economy has i C‹art s‹ows ercentaŒe o˜ resonents answerŠnŒ ‘er confient’ƒ 1 As for the United States, the domestic seen since 2010. This rising tide is not just 54 3 an overall macroeconomic phenomenon; it is economy is chugging along at 3% growth. 53% •ort‹ A…erŠca balanced across regions. Most of the world’s The Trump administration’s pro-business 52 major economies are experiencing positive agenda of deep corporate tax cuts and rolled- 50 growth in contrast to the situation just a few back regulation has helped accelerate one of 48 years ago. In 2015, Russia and Brazil were the longest stock market booms in history, 46 in recessions brought on by plummeting while driving corporate confidence to new ”atŠn A…erŠca 45“‚ 4 44 AsŠa†PacŠfic 44“‚ commodity prices and political unrest. The highs and jobless rates to new lows. 42 Global 42“‚ southern countries in the Eurozone – most It’s no wonder that North America is so 40 CEE 40“‚ notably Greece – were on the brink of default, positive, with nearly two-thirds of CEOs or in default, on their debt and threatening 38 —estern Euroe 38“‚ to bring down the euro. And China’s surging reporting that they believe global economic 36 growth had taken a hit from the Shanghai growth will improve, and a majority 34 indicating that they are ‘very confident’ about šŠle East 33“‚ market crash. their own organisation’s revenue growth in 32 Now, global commodity prices seem to have 2018 (see Exhibits 2 and 3). 30 stabilised at a moderate level. Russia and 28 Brazil have returned to modest growth; China 26 A˜rŠca 26“‚ is doing well, and the Eurozone has mounted 2017 2018 Source: PwC, 21st Annual Global CEO Sure ase: All resonents 2018 1,2­3€ 2017 1,37­‚