Asian CEOs are the most confident in the world, according to the recent YPO Global Pulse survey.
Confidence in the Southeast Asian region rose to 60.5%, the highest since the first quarter of 2015. This was led by the weakening of the dollar and the stabilizing slowdown in the Chinese economy.
Positive economic outlook leaped 2.9 points to 62.9, also the highest since Q1 2015.
From 59% in the previous quarter, the number of Asian business leaders expecting higher sales rose to 72%. Those looking out to expand their workforce were up to 38% from 30%.
Meanwhile, leaders eyeing an increase in fixed investments over the next 12 months came at 49%, Singapore Business Review noted. Last quarter’s was 45%.Former Reddit CEO Ellen Pao
As per Business World, Shiyin Cai, regional communications officer for YPO Southeast Asia Region, said in a statement:
“Despite ongoing concerns about the short-term stability of the global economy, confidence within Asia’s two most important economies, China and India, remains strong.”
Leaders in India were said to be the most confident. The country’s business confidence gained 1.6 points up to 68. China, on the other hand, slipped 1.8 points down to 62.2, but nevertheless remained within “optimistic territory.”
“Business leaders across Asia will be looking to take advantage of favorable economic conditions the rest of this year, while keeping a close eye on key economic indicators around the world.”