CEO optimism booms despite increasing anxiety over threats to growth

·        Optimism in global economic growth reaches record level and rises in all countries
·        US reinforces its lead on China as a target market for growth in 2018
·        Over half of CEOs expect their headcount to increase

·        Terrorism, geopolitical uncertainty, cyber and climate change rise as threats to growth

DAVOS, Switzerland, Jan.  22, 2018  (GLOBE NEWSWIRE) -- A record-breaking share of CEOs are optimistic about the economic environment worldwide, at least in the short term. That's one of the key findings of PwC's 21^st survey of almost 1,300 CEOs around the world, launched today at the World Economic Forum Annual Meeting in Davos.

Fifty seven percent of business leaders say they believe global economic growth will improve in the next 12 months. It's almost twice the level of last year (29%) and the largest ever increase since PwC began asking about global growth in 2012.

Optimism in global growth has more than doubled in the US (59%) after a period of uncertainty surrounding the election (2017: 24%). Brazil also saw a large increase in the share of CEOs who are optimistic global growth will improve (+38% to 80%). And even among the less optimistic countries such as Japan (2018: 38% vs. 2017: 11%) and the UK (2018: 36% vs. 2017: 17%), optimism in global growth has more than doubled since last year.

"CEOs' optimism in the global economy is driven by the economic indicators being so strong. With the stock markets booming and GDP predicted to grow in most major markets around the world, it's no surprise CEOs are so bullish," comments Bob Moritz, Global Chairman, PwC.

Confidence in short-term revenue growth on the rise

This optimism in the economy is feeding into CEOs' confidence about their own companies' outlook, even if the uptick is not so large. 42% percent of CEOs said they are "very confident" in their own organisation's growth prospects over the next 12 months, up from 38% last year.

Looking at the results by country, it's a mixed bag. CEOs' outlook improved in several key markets including in Australia (up 4% to 46%) and China (up 4% to 40%), where the share of CEOs saying they are "very confident" in their own organisation's 12-month growth prospects rose.

In the US, CEOs' confidence has recovered. After election nerves last year, the early focus on regulation and tax reform by the new administration has seen confidence in business growth prospects for the year ahead rising significantly - from 39% in 2017 to 52% in 2018. And North America is the only region where a majority of CEOs are "very confident" about their own 12-month prospects.