Grant Thornton - Global Economic Outlook 2012

GRANT THORNTON INTERNATIONAL BUSINESS REPORT

The global economy in 2012:

a rocky road to recovery

Contents

01 Foreword

02 The past 12 months

04 The year ahead

05 Business confidence

08 Business operations

13 Investment

15 Inflation

18 Employment

22 Access to finance

24 Topical issues

30 Methodology

32 IBR participants

Foreword

ED NUSBAUM

CHIEF EXECUTIVE OFFICER

GRANT THORNTON INTERNATIONAL

We have witnessed a large amount of

political and economic turmoil over

the past 12 months, from uprisings in

the Middle East and North Africa to

the tsunami in Japan and the sovereign

debt crisis in the eurozone. Resulting

volatility in commodity prices,

disruptions to supply chains and

general uncertainty has impacted

businesses across the globe, slowing

the recovery in both mature and

emerging markets.

The International Business Report

(IBR) became a quarterly survey in

2011, allowing us greater flexibility

in analysing and understanding the

impact of key events on business

growth. This new approach allows

us to deliver not only the economic

perspective of business leaders on

events such as the Arab Spring,

renewable energy and global lease

accounting changes, but also deep

insight into strategic issues such as the

proportion of women in senior

management and corporate social

responsibility activities. Drawing on

more than 13,000 interviews in 40

economies, this report explores the

trends that will shape the speed and

trajectory of the recovery over the

next 12 months, including demand,

employment, investment, inflation

and access to finance.

As the IBR enters its 20th year, the

global economic outlook is uncertain

and social unrest is growing. In

mature markets, debt crises and the

impact of ageing populations remain

unresolved whilst emerging markets

are grappling with persistent inflation

and a shortage of skilled workers. As

technology advances, competition

increases and the balance of economic...