Majority of business leaders confident of economy: LinkedIn

Last Updated: Thursday, July 24, 2014 - 23:30

New Delhi: Buoyed by formation of a business friendly government, a vast majority of the country's business leaders are optimistic about the growth of the domestic economy, says a survey by professional networking site LinkedIn.

The survey conducted every quarter among 13,000 business leaders across 15 countries found that India was among the few nations that showed a significant increase in confidence towards their respective domestic economies.

In the April-June period, 90 percent business leaders surveyed by LinkedIn were expecting improvement in the nation's economy compared to 53 percent in the January-March quarter this year.

"The Bharatiya Janata Party's (BJP) pro-business and pro- job creation agenda and its extremely strong showing in India's 2014 general election in May is a likely spark for that impressive increase in economic confidence," LinkedIn said.

Besides India, countries which also showed rise in optimism in their domestic economy were United Kingdom (73 percent), Spain (58 percent), Japan (46 percent) and Italy (41 percent). France and Brazil witnessed the maximum decline at 7 percent each on the parameter.

Moreover, around 71 percent of the business leaders in the country surveyed during April-June quarter this year have also expressed confidence in the global economy compared to 51 percent in the first quarter (January-March) of 2014.

"While India had the most dramatic increase in confidence in the global economy, France, Canada and Brazil decreased the most, at 10 percent, 5 percent and 5 percent, respectively," it added.
Increase in confidence for global economy were also seen at Netherlands (71 percent), United Kingdom (68 percent) and Spain (63 percent) in the second quarter.

In terms of job expectations, 64 percent of the business leaders surveyed in second quarter were expecting a increase in hiring compared to 60 percent in previous quarter.

"Business leaders in twelve out of the fifteen countries show an increase in optimism about adding staff," the professional networking site said.

First Published: Thursday, July 24, 2014 - 23:30
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