YPO, the premier chief executive leadership organisation in the world, announced today that confidence among CEOs in the European Union (EU) remained stable in the last quarter of 2016. The YPO Global Pulse Confidence Index for the EU edged up to 60.9, its highest level since April 2016.
After reporting the highest confidence globally in the third quarter, the EU now trails Asia and the United States, the most confident region in the world in the fourth quarter of 2016.
While the overall picture in the EU remained unchanged, there were differing trends within its largest economies. Economic confidence in the United Kingdom slumped 4.5 points to 55.0, its lowest level since April 2013 following the decision to exit the EU. Germany also reported a gloomier outlook in the fourth quarter, slipping 2.8 points to 56.3, following slower-than-anticipated growth and ongoing political unrest in the country.
Elsewhere, France reported more a positive outlook, moving up 2.9 points to 62.6, and Italy climbed 5.6 points to 61.3. Spain remained relatively unchanged at 67.1
“A low and durable level growth seems to be reality for the EU. It is, however, very encouraging to observe the persisting optimism coming from French chief executives even though they remain concerned by the results of the next presidential elections to take place in the first semester of 2017,” said Boris Derichebourg, President of Derichebourg Multiservices and a member of the YPO Paris Chapter.
Globally, the YPO Global Pulse Index for the fourth quarter of 2016 climbed by 3.0 points to 62.2, its highest level in two years. The United States reported the highest levels of economic confidence in the world, increasing by 4.2 points to 64.6, its highest level since January 2015. Asia gained 1.2 points to land at an optimistic 61.2. Elsewhere, confidence in Latin America increased by 2.4 points to 58.3, while confidence in the Middle East and North Africa jumped 5.6 points to 59.5. Africa reported a 0.8-point decline, landing at 54.7, making it the second-least confident region in the world after non-EU Europe, where confidence increased 2.5 points to 54.3.