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NORDIC TOP EXECUTIVES THE WORLD’S MOST OPTIMISTIC
Jul. 26, 2010 | Topic: Business conditionsNowhere in the world do CEOs of large companies foresee as bright a future as in the North. This is due to a low government debt and the companies’ cash flow, which allows for new investments.
A major global study by PricewaterhouseCoopers shows that Northern executives are the most positive in the world. In fact, 81% of top executives think that a noticeable economic recovery will be a reality within the next year. That is significantly more than in the U.S., despite the fact that the U.S. economy is in a higher gear compared to Scandinavia.
- The United States have accumulated a significantly greater debt than the Nordic countries, which is probably on the minds of many American executives. It needs to be paid back at some point, and that affects their degree of optimism, Partner and Head of the PricewaterhouseCoopers consulting business, Thomas Reenberg, says.
This claim is backed by the Danske Bank’s Chief Economist, Sten Bocain, who believes that the Nordic countries have the advantages of a lower public debt and a low unemployment rate. So even though we expect a higher growth in the U.S., the American executives are well aware that at some point, there is a bill to be paid.
The fact that the Danish and Nordic executives have such an optimistic outlook is, according to PricewaterhouseCoopers, a result of Danish companies' generally fast response to the crisis.
