Strong Economic Optimism In India Amidst A Mixed Global Picture: LinkedIn Economic Confidence Outlook
July 23, 2014
The headline from our Q1 2014 LinkedIn Economic Confidence Outlook was “scattered optimism” about the global economy among business leaders. The latest results from Q2 show a decrease in the already moderate optimistic outlook among the majority of the 15 countries we surveyed, with one notable exception: India.
Confidence in the global economy among business leaders in India took a major leap from 51% to 71% in Q2. The Bharatiya Janata Party’s (BJP) pro-business and pro-job creation agenda and its extremely strong showing in India’s 2014 general election in May is a likely spark for that impressive increase in economic confidence. This quarter’s survey was fielded in June, shortly after the Indian elections.
Read on for full results of the Q2 LinkedIn Economic Confidence Outlook survey of more than 13,000 senior business leaders on LinkedIn, including global optimism, optimism by country, and hiring expectations by country.
India Comes Out On Top Among Mixed Global Optimism
While India had the most dramatic increase in confidence in the global economy, France, Canada and Brazil decreased the most, at 10%, 5% and 5% respectively. The charts below compare confidence levels of surveyed business leaders in the 15 countries in Q2 as compared to Q1.
National Optimism Follows Global Optimism
Optimism about the economy in each business leader’s home country followed a somewhat similar pattern to the global outlook, with India again showing a dramatic 37% rise from last quarter, with France and Brazil each showing a 7% decline. Italy (+7%) and Spain (+5%) were also noteworthy risers. In all, less than half of the 15 countries had an increase in their positive outlook.
Hiring By Country Paints a Rosier Picture
Economic confidence as reflected in hiring expectations, which can be considered a leading indicator, painted a rosier picture in Q2 than general confidence overall. Business leaders in twelve out of the fifteen countries show an increase in optimism about adding staff. The decreasing confidence in France on each measure (global economy, national economy) is also reflected in decreasing confidence when it comes to upcoming hiring.
Full results for the Q2 2014 LinkedIn Economic Confidence Outlook are included below, along with individual breakouts for each country represented in the survey:
Watch for our next LinkedIn Economic Confidence Outlook in the third quarter of 2014. In the meantime, follow the Economic Graph Showcase Page for continuing coverage of issues impacting the global economy.
About the LinkedIn Economic Confidence Outlook
Each quarter, LinkedIn taps more than 13,000 senior business leaders from among its membership of more than 300 million professionals around the world from nearly every major industry and job level. We ask them a series of questions designed to elicit perspectives on where their national economy and the global economy is headed in the near future.
About The Data:
The survey was conducted in June 2014 of LinkedIn members director-level and above. Responding executives were located in Australia, Belgium, Brazil, Canada, France, Germany, India, Italy, Japan, Spain, Sweden, Switzerland, the Netherlands, the United Kingdom, and the United States. These countries represent almost two-thirds of global economic output.