Almost the entire world was in a recession late last decade. But with many economic indicators in the United States now pointing up, is there a better economic mood in the rest of the world? N.C. State University economist Mike Walden responds.
“Actually, there is …. We have a recent survey of business persons all around the world. This survey found that, in general, business people are expecting an improving economy. Actually, the greatest optimism – perhaps surprisingly to many – is in the Middle East and in Africa, followed by business people in North America and Asia. Only business people in Eastern Europe were recorded as being more pessimistic about the economy.
“Now in terms of industries, those with the most optimism were in transportation, tourism, entertainment and financial services. And if you think about it, those were all industries that were very severely hit by the recession. However, people in government and technology, interestingly, are still very pessimistic.”