Tuesday, January 25, 2011

DAVOS-CEO confidence bounces back to pre-crisis levels; Over a third of CEOs expecting to complete a merger or acquisition in 2011

* 48 pct of bosses "very confident" about short-term growth
* Fewer plan to cut costs in next 12 months than a year ago
* Optimism about emerging markets fuels upbeat business mood
* Confidence lowest in W.Europe but Germany an exception
DAVOS, Switzerland, Jan 25 (Reuters) - Crisis? What crisis?
Optimism among chief executives has bounced back to almost the same level as before the financial crisis, with half of those questioned in a closely watched survey released on Tuesday very confident about 2011 revenue growth.
Excitement about prospects in emerging markets is fuelling the bullish mood, even though economies in the developed world, particularly western Europe, remain sluggish.
The PricewaterhouseCoopers (PwC) [PWC.UL] survey of 1,201 chief executives, published at the annual World Economic Forum (WEF) in Davos, found 48 percent were "very confident" that they would grow revenues in the next 12 months.
That reading is close to the 50 percent level reached in January 2008, before the depths of the economic crisis. It is up sharply on the 31 percent recorded a year ago.

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