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The economic confidence amongst business leaders in Asia fell during the third quarter of the year. 
 The <keyword id="3801485" type="UNKNOWN" weightage="20" keywordseo="ypo-global-pulse">YPO Global Pulse</keyword> Confidence Index for Asia slipped 2.9 points, from 62.9 to 60.0 over the last three months. 
 
Having reported the highest levels of confidence of any region in the world in the second quarter of the year, Asia fell behind the United States and the European Union in the third quarter but remained marginally ahead of the global average, which landed at 59.2. 
 The decline in sentiment was mainly felt within Asia’s emerging economies. Confidence amongst YPO chief executives within the <keyword id="178352" type="UNKNOWN" weightage="20" keywordseo="Asean-countries">ASEAN countries</keyword> slumped to its lowest level in the seven-year history of the study, with Indonesia, Malaysia, Singapore and Vietnam all experiencing marked declines in optimism. 
 
Elsewhere, confidence remained steady in the region’s largest economies. China reported a slight decline, slipping just 0.8 point to 61.4, its lowest level for a year but still in firmly optimistic territory. India dropped 2.0 points to 66.0 but maintained its position as the most confident country in the region and within the world’s top ten economies. Japan saw confidence improve 1.1 point to 55.1, although at this level, it still remains below the regional score of 60.0. 
 
“There are significant differences in economic outlook across Asia. Within the emerging economies, there are concerns about the increased valuation of the U.S. dollar and ongoing worries about the short-term economic performance of China and India. On the other hand, the outlook amongst business leaders within these leading economies remains strong, which has to be viewed as an encouraging sign,” said Azran Osman-Rani, CEO of iflix Malaysia and chair of the YPO Malaysia Chapter. As business leaders in Asia finalise their plans for 2017, they will be monitoring key economic indicators closely.” 
 
Most notably, the YPO Employment Index for Asia fell 2.7 points to 55.5, its lowest level for four years, suggesting that unemployment will continue to be a challenge for many economies in the region. 
 
Less than a third (30%) of chief executives expected to increase headcount in the next year. This was significantly down on the previous quarter, when 38% forecasted increased employment. In the latest survey, 10% predicted a reduction in staff numbers, compared with 7% in the previous study. 
 
Similarly, when looking ahead 12 months in regards to sales, 66% of business leaders expected to increase revenue, down from 72% in the second quarter. 
 
For the third quarter, the YPO Global Pulse Index for India fell 2.0 points, from 68.0 to 66.0, which is still within firmly optimistic territory. The modest decline comes follows opposition to the government’s reform agenda, but business leaders in India remain extremely positive about the economic climate and the growth prospects for their own organisations. 
 
YPO Global Pulse Confidence Index is a quarterly electronic survey, conducted in the first two weeks of October 2016, gathered answers from 1,625 YPO chief executive officers across the globe, including 180 in Asia and 69 in Australasia.

Economic confidence amongst Asian chief executives drops in third quarter. Here’s why

The quarterly report of YPO Global Pulse, which states the outlook of CEOs across 130 countries, stated that the business confidence declined in the Q3 of 2015. 
 
The index stated that this was the fifth consecutive quarterly decline due to drop in oil prices, plummeting stock markets, slowdown in China, rising interest rates, etc. 
 
The YPO Global Pulse Confidence Index revealed that the confidence for the US declined 2.9 points but it was consistent with the GDP expansion of the country. 
 
Coming to Asia, owing to China’s slowdown, the CEO economic confidence dropped 4.7 points from 62 to 57.3 in Q3 of 2015. This is the lowest since 2009. 
 
However, even with slower growth in China, the confidence index for Asia at 57.3 is in line with the global index which declined 2.8 points in October to 58.1. The outlook for Asia can hardly be construed as worrisome. 
 
“As China struggles to transform from an industrial-based economy to a consumer-driven model, confidence in Asia has been adversely affected by the tight inverse relationship between the value of the U.S. dollar and commodity prices,” said Leon Teoh, managing director of Fortson Sdn Bhd and a member of the YPO SEA Dragon chapter. 
 
The ASEAN nations also witnessed a drop in export and confidence in Thailand fell 5.9 points and in Malaysia, it dropped 12 points. 
 
The business confidence in the Middle East and North Africa declined further. 
 
The top oil exporters of the world, Saudi Arabia and United Arab Emirates, also saw a drop in CEO confidence. 
 
(Image: Thinkstock)

Business confidence is on a decline in Asia, but there is nothing to worry about: YPO Global Pulse Report

The confidence among <a href="http://www.businessinsider.in/searchresult.cms?query=business+leaders&amp;sortorder=effectivedate">business leaders</a> in Asia grew in the Q4 of 2016. As per the <keyword id="852310" type="ORGANIZATION" weightage="20" keywordseo="YPO">YPO</keyword> Global Pulse Confidence Index, <keyword id="4176943" type="UNKNOWN" weightage="20" keywordseo="business-leaders-in-Asia">business leaders in Asia</keyword> expressed more confidence and the number was up 1.2 points in the Q4. 
 
Business leaders in <a href="http://www.businessinsider.in/searchresult.cms?query=asia&amp;sortorder=effectivedate">Asia</a> reported a more cautious outlook than their counterparts in the United States but were more optimistic than chief executives in the European Union (EU). For the first time since October 2015, Asia lagged behind the YPO Global Pulse composite score, which reflected an upswing in confidence to an optimistic 62.2. 
 
Confidence among business leaders in China remained stable at 61.3, compared to 61.4 in the third quarter. While India reported a 3.2-point drop in confidence to 62.8, it still remains the most confident of Asia’s economic powerhouses. 
 
“It’s encouraging to see that the outlook is still firmly optimistic in each of the major markets and that confidence has quickly returned to most of the developing economies in the region. Clearly there will be some concerns about the potential impact of a more protectionist U.S. economic policy on global trade and a strong US dollar, and chief executives in Asia will be monitoring the situation carefully over the coming months,” said Patrick Siewert, Managing Director, The Carlyle Group, and YPO Regional Chair of North Asia. 
 
Meanwhile, In Asia, there were three key indicators pointed out in the YPO Global Pulse Index-sales, hiring and fixed investment, and they all increased in the final quarter of 2016.

Business confidence in Asia edges up as global outlook improves

Confidence returned amongst YPO CEOs in India in the first three months of 2016. The World Bank stated that India was the fastest growing economy in the world last year, with 7.3% GDP growth, and the rate of expansion is forecast to increase to 7.5% this year. 
 
The YPO Global Pulse Index for India rose 5.6 points to land at 66.4, putting it far ahead of the Asia composite score of 60.0 and ahead of all of the other leading economies in the world. 
 
<a href="http://bit.ly/1W2P7vW">YPO</a>, a network of global business leaders and chief executives, said that economic sentiment for Asia remained steady at an optimistic 60.0 in the first quarter of this year, despite significant fluctuations in confidence within the region. 
 
The YPO Global Pulse reported that business leaders in the region are now the second most confident in the world, trailing their counterparts in the European Union. 
 
Sentiment in China, the region’s largest economy, improved by 2.0 points in the first quarter of 2016 to 64.0, representing a higher than the average confidence level for the country. 
 
India, in particular, witnessed a rebound in confidence level, surging 5.6 points from 60.8 in the last quarter of 2015 to 66.4 in the first quarter of this year. Economic growth in India is being fueled by a vibrant service sector, as India has become a major exporter of business outsourcing services. 
 
 
 
“The general feeling seems to be that there are strong opportunities for growth and expansion, but CEOs will be cautious about taking on too much risk in the current economic environment,” said Paul Tao, managing director of New Heritage Investments Limited and network officer in YPO Hong Kong Chapter. "Increased confidence seems to be returning in the major economies of China and India, which would bode well for the entire Asian region going forward." 
 
Meanwhile, sales, employment and fixed investment outlooks were unchanged in first quarter. There was little movement from the previous quarter across the three major indexes in the survey, tracking sales, employment and fixed investment. The Employment Index for Asia slipped 0.3 point to 56.7, with 30% of CEOs forecasting an increase in headcount in the next 12 months. 
 
However, the ASEAN CEOs were less optimistic as emerging economies struggled. Confidence within the ASEAN countries fell away in the first quarter of 2016, as emerging economies in the region continued to feel the full effects of the Chinese economic slowdown. 
 
The YPO Global Pulse Index for ASEAN countries — Indonesia, Malaysia, Philippines, Singapore, Thailand, Brunei, Myanmar (Burma), Cambodia, Laos, Vietnam — fell 3.3 points to 56.9 in the first quarter 2016.

Confidence of CEOs in India surges after World Bank predicts 7.5% growth this year

The <a href="http://bit.ly/20kiJYE">YPO Global Pulse</a> Confidence Index of CEO economic sentiment for Asia rose 2.4 points in January to 59.7, after having declined 10 points in the previous five quarters. 
 
At its current level of 59.3, confidence in Asia is slightly higher than the global index, which held steady at 58.0. This indicates that while economic confidence in Asia has waned over the past two years, it is now more aligned with confidence around the globe. 
 
The increase in confidence by <keyword id="852310" type="ORGANIZATION" weightage="20" keywordseo="YPO">YPO</keyword> leaders in the region appears surprising given the collapse of global stock prices triggered by the slowdown of China markets and the dramatic decline in oil prices. While global investors feared these were signs of anemic growth, YPO members in Asia are more confident than they were three months ago. The upswing in confidence is most pronounced in China where sentiment jumped 10.0 points from 52.0 to 62.0. 
 
“The sharp drop in oil prices could, in fact, provide considerable stimulus to economic activity in Asia. In particular, the largest economies in Asia – China, Japan, India, and South Korea – along with Taiwan and Thailand are oil importing countries that will benefit significantly from the price drop. Lower gas prices should leave consumers with more money to spend on other goods and services,” said Boon Wee Kuah, CEO of MTQ Corporation and a member of the <a href="http://bit.ly/1QCIDii">YPO</a> Singapore Chapter. 
 
Globally, the YPO Global Pulse Confidence Index remained essentially unchanged at 58.0 in the fourth quarter of 2015, its lowest level since the third quarter of 2011 at the height of the global economic recession. 
 
Confidence in the United States slipped 0.8 point to land at 59.1, while Africa dropped 3.3 points to 51.0. The European Union remained almost unchanged, gaining 0.3 point to land at 60.5. Only Asia, which edged up 2.4 points to 59.7, and Latin America, which jumped 4.8 points to 54.4, recorded any material increase in economic confidence. 
 
 
 
This represents a convergence of sales, employment and investment indexes for the three largest regions. 
 
Key Findings in Asia 
 
Sales, employment and fixed investment outlooks improve for 2016. CEOs in Asia reported a more confident outlook across the three major indexes for the next 12 months. The YPO Sales Confidence Index for Asia jumped 3.5 points in January to 66.4, with 67% of CEOs expecting an increase in sales over the next year. The Employment Index for Asia rose 1.2 points in January to 57.0, still slightly below reported levels in the past couple of years, but 32% of CEOs expect to increase headcounts in the coming year. The Investment Index for Asia rose 2.9 points in January to 60.9 after falling 6.5 points in October due to fears of a much sharper than expected slowdown in China. Nearly half of respondents (45%) anticipate an increase in fixed investments in the next 12 months. 
 
Southeast Asia 
<keyword id="5891" type="ORGANIZATION" weightage="20" keywordseo="ASEAN">ASEAN</keyword> CEOs more optimistic despite weakening economies. CEO economic confidence rebounded in the Southeast Asia region, increasing 7.6 points to 60.2. 
 
Emerging economies in Asia are facing challenges in part because of the growth slowdown in China as well as the sharp increase of the value of the U.S. dollar, which has increased production costs, reduced demand, and thereby curtailed economic activity. In addition, China is a major importer of goods from the ASEAN countries, South Korea, and Japan, and the slower pace of economic activity in China greatly impacts these economies. 
 
This weakness in emerging economies was evident last quarter in the YPO Global Pulse Index for ASEAN countries — Indonesia, Malaysia, the Philippines, Singapore, Thailand, and Vietnam amongst others — which fell to its lowest level in six years. 
 
This quarter, YPO members in ASEAN reported a marked increase in their confidence regarding sales, hiring and fixed investment expectations. The YPO Sales Confidence Index for ASEAN nations jumped 9.8 points to 67.8 while fixed investment increased an impressive 9.1 points, landing at 64.4. Hiring expectations were optimistic as well, with confidence climbing 5.2 points to 60.6. 
 
North Asia 
CEO confidence in China rebounds after a year of decline. The upswing in confidence across all of Asia in January was most pronounced in China, where sentiment jumped 10 points from 52.0 to 62.0. At an index of 62.0, confidence among YPO members in China is higher than other large economies in Asia, including India and Japan. In 2015, <keyword id="35050" type="CITY" weightage="20" keywordseo="gdp">GDP</keyword> growth for China was 6.8%, as projected by the IMF last April; the value of the yuan depreciated slowly during the past two years, bolstering exports and countering any further slide in domestic growth; and, stock prices in China, as measured by the Shanghai Composite Index, rose 30% in the past 15 months, signaling moderate growth in Asia. 
 
South Asia 
CEO confidence in India continues its steady decline. The CEO confidence index in India fell another 1.5 points to 60.8. This is the eighth consecutive quarterly decline amid concerns about the slowdown of the Chinese economy and falling commodity prices. 
 
Australasia 
CEOs in construction, production and services sectors are marginally less confident in Australasia. The CEO confidence index for Australasia fell 1.0 point to 58.2 in January. 
Across the board, CEOs in all major sectors reported less confidence than a year ago. When asked to look ahead six months, 42% of Australasian CEOs in the production sector thought economic conditions would improve over the next six months, while CEOs in the construction and service sectors were less optimistic. 
 
 
About YPO 
YPO (Young Presidents’ Organization) is a not-for-profit, global network of young chief executives connected through the shared mission of becoming Better Leaders Through Lifelong Learning and Idea Exchange. YPO member-run companies employ more than 15 million people around the world and generate US$6 trillion in annual revenues. For more information, visit <a href="http://bit.ly/1PuqnZB">www.ypo.org</a>.

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Economic confidence amongst Asian chief executives drops in third quarter. Here’s why

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Business confidence is on a decline in Asia, but there is nothing to worry about: YPO Global Pulse Report

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Business confidence in Asia edges up as global outlook improves

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Confidence of CEOs in India surges after World Bank predicts 7.5% growth this year

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Asian CEOs more confident as region foresees moderate growth

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