SINGAPORE: The YPO Global Pulse Confidence Index for the Asean sub-region fell 4.9 points from 65.0 to 60.1 in the second quarter of 2015. But despite this decline, chief executive officers in the Asean region remained relatively positive, with confidence levels in line with the solid global reading of 60.9, and not far below the overall Asia reading of 62.0.
The most significant declines in confidence was in Indonesia, Malaysia and Singapore. Confidence increased among CEOs in Vietnam and Thailand.
Sluggish global demand, the slowdown in China, and the sharp decline in commodities prices have cast a shadow on the export-reliant Asean nations, particularly the commodity-oriented economies of Indonesia and Malaysia, said Terry OConnor, regional chief executive officer of Courts Asia and the regional chair of the YPO South-East Asia region.
The near collapse of China's Shanghai Composite Index during June added to the concern.
The YPO Global Pulse Confidence Index declined 0.6 point, from 61.5 to 60.9, in the second quarter of 2015. This was the fourth consecutive drop in global confidence from a near-record high of 64.0 one year ago, but each of the quarterly declines have been modest.
Across the globe, confidence declined 0.5 point to 62.8 in the United States while in the European Union, it declined 0.9 point to 61.6. Latin America recorded its third consecutive drop in confidence, falling 2.3 points to 50.1, the lowest level among all nine regions.
The quarterly electronic survey, conducted in the first two weeks of July 2015, gathered answers from 2,127 CEOs across the globe, including 276 in Asia. - Bernama
Already a subscriber? Log in
The Star Festive Promo: Get 35% OFF Digital Access
Cancel anytime. Ad-free. Unlimited access with perks.
