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CEOs head to Davos more pessimistic about 2013
Tuesday - 1/22/2013, 1:03pm EST
DAVOS, Switzerland (AP) - The snow has fallen and the hotels are ready, but the CEOs gathering in Davos for the World Economic Forum are facing strong worries about public mistrust, disappearing jobs and a shaky global recovery.
New survey results Tuesday show a steady drop in the number of CEOs worldwide who are "very confident" their companies will grow this year. The number fell to 36 percent from 40 percent last year and from 48 percent in 2011.
The survey by accounting firm PricewaterhouseCoopers shows that with the pessimism, most companies are limiting investments and focusing on tried-and-true markets.
PwC chairman Dennis Nally told The Associated Press that confidence was down almost everywhere, even in high-flying economies like China and Brazil.
(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)