McKinsey Global Survey Results show that, overall, thinking about financial and other effects of the crisis and their companies’ current position, just over 2/3 of respondents expect their companies to emerge from the crisis stronger. However, when that will happen is much less clear; while executives indicate that the economy as a whole is healthier now than it has been in some time, they don’t expect much further improvement soon.
A comparative analysis shows that respondents’ views on a range of trends affecting businesses and the economy are slightly more optimistic overall than they were in June, and notably more optimistic than they were in March. Similarly, the share of executives saying that their nations’ economies are better off now compared with last September is notably larger than it was six weeks ago. But the share expecting improvement in economic conditions by the end of 2009 has barely changed and more than twice as many executives still expect their nations’ GDPs to fall in 2009 as to rise.
Although 37% of the respondents do expect economic conditions to be better at the end of this year than they are now, conditions are so poor that only 20% of all respondents expect an actual economic upturn in 2009, a fall of 8% points in six weeks. Even when stock markets are booming, it seems, executives think there’s still a long way to go.