Confidence among Asian companies held near three-year lows in the first quarter ...
SEOUL - Confidence among Asian companies held near three-year lows in the first quarter as a U.S.-China trade dispute dragged on, pulling down a global economy that is already on a downward path, a Thomson Reuters/INSEAD survey found.
“Things have not gotten worse but a lot of uncertainty is putting companies in wait-and-see mode,” Antonio Fatas, a Singapore-based economics professor at global business school INSEAD, said of U.S.-China talks on trade relations. A total of 100 companies from a range of sectors responded to the survey, conducted from March 1-15 in 11 Asia-Pacific countries where 45 percent of the world’s population live and 32 percent of global gross domestic product is generated.The United States and China have put on hold a planned escalation of their trade war pending negotiations, but the much-awaited conclusion of the latest round of talks has also been delayed even though remarks from the two sides have been optimistic.
The index staying above the neutral point of 50 suggests companies in Asia are not expecting an imminent global recession, but languishing near multi-year lows indicates companies are exerting caution.
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