YPO Global Pulse survey reveals that EU business confidence returns to record levels

CEO optimism at six-year high

LONDON - 5^th May 2015 - Low commodity prices and the European Central Bank's significant quantitative easing package led to continued optimism amongst CEOs across the European Union in the first quarter of 2015. The YPO Global Pulse Confidence Index for the EU climbed 1.3 points to 62.5, matching the record high that it achieved in the second quarter of 2014.

 

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For the first time in the YPO Global Pulse's six-year history, EU confidence is now higher than the global composite level of 61.5 and only marginally below the world's two most optimistic regions, Asia, which landed at 63.6, and the United States, which came in at 63.3.

"The results indicate that favourable economic policies, low fuel prices and the continued devaluation of the euro, are giving business leaders, as well as consumers, a timely boost after an extremely challenging few years," said Andrew Bailey, chairman of ABRS Recruitment & Bailey Group and a member of the YPO London-Westminster Chapter. "That said, CEOs will remain vigilant and cautious throughout the next 12 months, aware of the many threats to sustained economic growth, from both within and outside the region."

The YPO Global Pulse Confidence Index declined 1.0 point in the April 2015 survey to 61.5 from 62.5. The global index continued to track closely to its peak level for the cycle, but growth prospects around the world were increasingly uneven. While confidence rose in Asia and the European Union and remained high in the United States, the indices for Latin America and non-EU Europe both tumbled to 52.4, their lowest levels since the YPO survey began.

Key findings in the EU
Confidence levels converge across region: In first quarter 2015, confidence levels evened out across the major European economies, as many countries that had experienced extremely fragile levels of confidence over the past few quarters bounced back. France enjoyed the most significant climb in optimism, jumping 9.1 points to 61.2, its highest level for almost four years. Meanwhile Greece climbed 8.1 points to 58.8, and Italy rose 5.3 points to 61.6. Germany gained 2.6 points, landing at 60.8, its highest level since the final quarter of 2010.