After rallying 4.3 points in January to its highest level since July
2011, the YPO
Global Pulse Confidence Index for Asia inched down just 0.1 point to
64.2 in April, with declines in Chinese confidence offset by rising
optimism in Japan. The ASEAN economies are more confident than the
region as a whole; their composite level edged up 0.9 point to 68.6.
The survey results were announced today by YPO
(Young Presidents’ Organization), a not-for-profit global network of
20,000 chief executive officers.
Year-end euphoria tempered in China; confidence in Japan continues
to rise. Disparate trends in China and Japan are revealed
underneath the stability in regional confidence. In China, the YPO
Global Pulse Confidence Index gave back 7 of the 21 points it had gained
in the previous quarter on weaker-than-expected economic data. In
contrast, the confidence level of Japanese CEOs increased for the second
straight quarter to 57.1, its highest level in the history of the
four-year survey. Business confidence levels in both Hong Kong and India
remained virtually unchanged in the mid-60s.
Asian CEOs bullish on sales, hiring and fixed investment. The
YPO Sales Confidence Index for Asia landed at 72.0, 5.7 points above the
global composite index. Employment confidence landed at 59.5, slightly
above the global reading of 58.2. Finally, the fixed investment
confidence held steady at 65.5, above the global reading of 59.7.
CEOs optimistic about short-term conditions. Asian
business leaders remain fairly upbeat about overall business and
economic conditions over the next six months, with half (49%) saying
they expected conditions to improve over this period of time and only 9%
expecting them to deteriorate.
“Concerns about the sustainability of China’s economic expansion
appeared to be allayed earlier this year, but analysts interpreted more
recent data as suggesting that the current economic rebound remains
fragile,” said Terry O’Connor, regional chief executive officer of
Courts Asia and chair of the YPO Singapore Chapter. “At the same time,
new economic stimulus measures in Japan and continued strength in the
ASEAN economies are keeping overall Asian confidence at a robust level.”
for more information about the survey methodology and results from
around the world. For more information about YPO, visit www.ypo.org.
Michèle Foster, +33-9-7044-0704