The shadow of gloom cast over the global economy shows no sign of abating. More than 70 percent of CEOs believe growth will remain static at best over the next 12 months, according to PwC’s most recent CEO survey. In January 2016, the IMF shaved another 0.2 of a percentage point off its global growth forecast for both this year and 2017, now projected at 3.4 percent and 3.6 percent, respectively. Even the typically supremely confident attendees of the annual World Economic Forum were subdued; Davos still offered plenty of snow this year, but otherwise precious little to write home about.
