Economic Conditions Snapshot, September 2015: McKinsey Glo..
Economic Conditions Snapshot, September 2015: McKinsey Global Survey results
Executives are more downbeat about the state of the global economy now than at any time this year, according to McKinsey’s latest survey on economic conditions. Recent turmoil in global markets has fueled concern over the strength of respondents’ home economies—and of the world economy, too. At the same time, executives cite volatile economic conditions and exchange rates as emerging threats to both domestic and global growth in the short term.
A majority predict that oil prices will stay low in the next year, which could potentially spur future growth. It’s unclear, though, how much a growth spurt from oil prices could offset the economic risks posed by increased volatility. Executives in emerging markets are particularly concerned with volatility at home—especially in China, where four-fifths of respondents say their economy has worsened in the past six months. Across regions, the domestic and global economic outlook for the coming months is more tempered. The same is true of expectations for China’s economy, which most respondents believe will meet (or come close to) the Chinese government’s 2015 growth target of 7 percent.