Asia execs see bleaker future than US, Europe peers

Asia execs see bleaker future than US, Europe peers

HONG KONG (Reuters): More top executives in Asia are worried about the global economic outlook than their counterparts in Europe and the United States, according to a recent survey.

The survey of 100 top executives worldwide found 77 percent of Asian respondents were "concerned" or "very pessimistic" about the short-term economic outlook.

Only 35 and 53 percent of respondents from Europe and the United States, respectively, held the same views.

None in Asia said they were "very optimistic" or "confident" while 16 percent in the United States said they were.

"As finance executives are among the most conservative people on the planet, these results are chilling," said Carla Rapoport, editor-in-chief of CFO Asia, in a statement.

The survey was jointly organized by the Asian, European and U.S. editions of CFO, a publication of the Economist Group.

Views of Asian respondents on the regional outlook was even more bleak with 86 percent of those polled saying they were "concerned" or "very pessimistic" about the economy over the next year.

This compared to 56 percent in the United States and 26 percent in Europe.

Seventy-six percent of Asian executives expected flat or lower profits in the next quarter compared with 67 percent in the United States and 32 percent in Europe.

"The sting to export-driven businesses from a decline in orders is just beginning," Rapoport warned.