An earnings season described even by the most optimistic as muted has
been made even more worrying by the pessimism shown by chief executives
at globally dominant companies.
Three key themes have emerged from the Europe-based business leaders CNBC has spoken to this week. First, the atmosphere of worry and doubt is not going anywhere. Second, no part of the world or sector of the economy seems to be immune from concerns. And third, mass liquidity injections by central banks are being met with a distinct lack of enthusiasm in the real economy.
Read more: http://www.cnbc.com/id/49531389
Three key themes have emerged from the Europe-based business leaders CNBC has spoken to this week. First, the atmosphere of worry and doubt is not going anywhere. Second, no part of the world or sector of the economy seems to be immune from concerns. And third, mass liquidity injections by central banks are being met with a distinct lack of enthusiasm in the real economy.
Sir Martin Sorrell, chief executive of the world’s largest advertising group WPP,
told CNBC Thursday: “The monetary action taken by Mario Draghi, the
Fed, Japan, makes the market feel better, but in the real world people
are still concerned.”
He added: “As you look towards 2013, this is the atmosphere that will persist.”
While
markets around the world have welcomed unprecedented levels of
liquidity injections by central banks during the credit crisis, this
does not seem to have filtered down to businesses at the coal-face.
This gloom is permeating companies’ hiring decisions, which could in itself affect the broader economy.
Read more: http://www.cnbc.com/id/49531389
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