Global players in the corporate sector are looking more optimistic, and business sentiment has improved, according to a quarterly survey by Oxford Economics. However, business concerns about the coronavirus pandemic remain understated; Several major companies say the global economic outlook remains vulnerable to downside risks, according to a report by one of London’s most well-known financial and economic analysts.
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According to their forecasts, the global economy could grow by 5.6 percent this year after a 3.4 percent drop in GDP last year.
Oxford Economics examined the forecasts of 157 large companies. The companies included in the analysis together employ 6 million people and have a combined annual turnover of nearly $ 2000 billion.
According to the Council of Analysts, 70 percent of respondents see the global economic outlook as more optimistic than they were a month ago.
They added: Business morale has been improving steadily since December of last year, the Telegraph Office writes.
The report also indicated that 45% of respondents see moderate global economic risks and 4% view strong global economic risks.
