Oil and gas capital confidence barometer
Cautious optimism characterizes the global economic outlook.
The recession in Europe appears to be over, but growth remains anemic, particularly in the southern regions where significant structural issues remain.
Consumer and business confidence is rising in the mature economies, and the emerging economies are generally recovering from their slowdown.
What is your perspective on the state of the global economy today?
Political instability and slowing growth in emerging markets are key economic risks
Not surprisingly, more than one-third (36%) of the oil and gas company respondents saw increasing global political instability as the key economic risk to their business. More than one-quarter (26%) of the oil and gas respondents believed that slower growth in the emerging markets was their key risk; another 21% had concerns about the negative impacts of the phase-out of the US Federal Reserve’s bond-buying/stimulus program.
What do you believe are the greatest economic risks to your business over the next 6–12 months?
Other trends we observe include:
- Megatrends will impact the business environment
- Economic caution reflected in job creation prospects
- Confidence grows across most key financial indicators
- Credit conditions improving globally, less so for oil and gas