Global economy: Developing countries sceptical

Developing countries are sceptical about the global economy expansion next year compared to their advanced counterparts.According to a survey conducted by CFA Institute, 35 per cent of the correspondents in the developing world compared to 42 per cent in the developed countries were optimistic that the global economy would improve.The optimism is slightly higher than last year, when they both recorded 26 per cent 37 per cent respectively, on what they perceived would be the market growth for 2012.“The outlook is still guarded, which is understandable given the ongoing European sovereign debt crisis, an expected slowing of economic growth in China, and the pending fiscal cliff in the United States,” reads an executive statement from the survey.Dubbed “2013 CFA Institute Global Market Sentiment Survey”, it sought input from CFA Institute members on the market’s sentiment, performance and integrity issues affecting the economy.The survey was conducted from October 30- November 13 this year and took input from 6,783 respondents from 22 countries.Overall, the world is an optimistic lot with 40 per cent of the correspondents feeling the economy will grow this year compared to 34 per cent that felt the same during the last year’s survey.Members in the Europe, Middle East, and Africa (EMEA) region were the most confident according to the survey, as 50 per cent had positive notions this year compared to 38 per cent for last year.America’s positivity was 39 per cent of the interviewed CFA members compared to 36 per cent who responded last year, while Asia-Pacific (APAC) communities had 32 per cent of its members optimistic of economy growth next year, compared to 25 per cent.

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Global economy: Developing countries sceptical