KPMG Business Outlook Survey February 2009

Industries 09 February 2009

The winter 2009 KPMG Business Outlook Survey, which surveys over 3,700 manufacturing firms across the EU, shows confidence in the sector has collapsed in the face of the global economic downturn. EU manufacturers’ confidence regarding the outlook for business activity over the next twelve months has retreated swiftly from six months’ earlier, with the net balance falling into negative territory for the first time since the survey began in January 2006. The latest net balance figure of -10.2 contrasts markedly with the high of +56.3 recorded two years ago, while the remaining ten survey variables all posted record lows and negative readings. Anecdotal evidence from the latest survey highlighted deteriorating economic conditions as the main threat to business revenues, along with a resulting downturn in orders. More

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