By DPA
Singapore : Asian chief executives are more upbeat than their Western counterparts, with those in China and India the most optimistic about growth prospects, a survey said Tuesday.
PricewaterhouseCoopers (PwC) said that 50 percent of those queried were very confident about revenue growth over the next 12 months compared to 52 percent a year ago.
It was the first decline in confidence levels since the 2003 survey.
North America reflected the overall drop in business confidence, where 35 percent of chief executives said they were “very confident” about growth, compared to 53 percent in 2007.
“The world’s economic axis is shifting as Asia consolidates its position,” said PwC’s Singapore executive chairman Gautam Banerjee.
Chief executives in China and India were the most upbeat, with 73 percent and 90 percent respectively saying they were “very confident” about growth prospects.