Business optimism declined slightly in the US but remains high due to strong economic growth. Confidence in the eurozone sharply declined as leaders reacted to economic uncertainty and poor data. UK optimism rose to second despite Scottish referendum uncertainty. Chinese business optimism reached its highest since 2011 on robust economic expansion. Japanese optimism fell to 0% after a sales tax hit consumer demand.

1. Grant Thornton IBR Q3-2014 results
How optimistic are you for your economy over the next 12 months?
100
United States
Business optimism slipped
slightly to 69% in Q3 but
remains relatively high,
boosted by strong economic
and employment growth.
100
eurozone
Confidence in the eurozone
slid sharply this quarter as
business leaders in Germany,
France and Italy reacted to
continued uncertainty and a
series of poor economic data.
100
United Kingdom
The UK moves into second
place in the business optimism
index despite uncertainty
caused by the Scottish
referendum.
100
Russia
Russian business optimism
remained low but steady
despite a raft of economic
sanctions following the
Ukraine crisis that could tip
the economy into recession.
100
China
The optimism of Chinese
business leaders rose to
its highest since the first
quarter of 2011 with a raft
of economic data suggesting
robust expansion.
100
Japan
Optimism fell to 0% in Japan
in Q3, as the introduction of
a new sales tax hit consumer
demand causing the economy
to contract sharply in April-
June.
80
60
40
20
0
100
-20
80
-40
60
-60
40
20
0
-20
-40
-60
100
80
60
40
20
0
100
-20
80
-40
60
-60
40
20
0
-20
-40
-60
100
80
60
40
20
0
-20
-40
-60
-80
2012- 2013- 2014-
80
60
40
20
0
100
-20
80
-40
60
-60
40
20
0
-20
-40
-60
100
80
60
40
20
0
100
-20
80
-40
60
-60
40
20
0
-20
-40
-60
100
80
60
40
20
0
-20
-40
-60
-80
2012- 2013- 2014-
80
60
40
20
0
100
-20
80
-40
60
-60
40
20
0
-20
-40
-60
100
80
60
40
20
0
100
-20
80
-40
60
-60
40
20
0
-20
-40
-60
100
80
60
40
20
0
-20
-40
-60
-80
2012- 2013- 2014-
100
80
60
40
20
0
-20
-40
-60
-80
2012- 2013- 2014-
80
60
40
20
0
100
-20
80
-40
60
-60
40
20
0
-20
-40
-60
100
80
60
40
20
0
100
-20
80
-40
60
-60
40
20
0
-20
-40
-60
100
80
60
40
20
0
-20
-40
-60
-80
2012- 2013- 2014-
100
80
60
40
20
0
-20
-40
-60
-80
2012- 2013- 2014-
100
80
60
40
20
0
-20
-40
-60
-80
2012- 2013- 2014-
100
80
60
40
20
0
-20
-40
-60
-80
2012- 2013- 2014-
80
60
40
20
0
100
-20
80
-40
60
-60
40
20
0
-20
-40
-60
100
80
60
40
Key: A score above
zero indicates net optimism
20
0
100
-20
80
-40
60
-60
40
20
0
-20
-40
-60
100
80
60
40
20
0
-20
-40
-60
-80
2012- 2013- 2014-
100
80
60
40
20
0
-20
-40
-60
-80
2012- 2013- 2014-
80
60
40
20
0
100
-20
80
-40
60
-60
40
20
0
-20
-40
-60
100
80
60
40
20
0
100
-20
80
-40
60
-60
40
20
0
-20
-40
-60
100
80
60
40
20
100
0
100
80
-20
80
60
-40
60
40
-60
40
20
20
0
0
-20
-40
20
Latin America
Optimism -60
40
across the
continent -80
60
continues to slide
as the 2012- Argentinean 2013- default,
2014-
Brazilian elections and
Mexican reforms increase
uncertainty and dampen
investment activity.
100
80
60
40
20
0
-20
-40
-60
-80
2012- 2013- 2014-
To examine IBR results going back to 1992, use our data visualisation tool: https://dataviztool.internationalbusinessreport.com/ibr.html
Sample: 2,500 mid-market business leaders interviewed in 34 economies
Source: Grant Thornton IBR 2014
100
80
60
South Africa
Optimism dropped back
to just 3% in Q3 with unrest
in the key mining sector
and little evident sign
of necessary economic
reforms weighing on growth.
Turkey
Confidence in Turkey climbed
again in Q3 as political unrest
subsides although the lira
remains under pressure due
to the persistent current
account deficit.
India
Indian businesses remain the
most optimistic in the world
as the new administration
embarks on a series of
reforms to boost growth
and lower inflation.
Australia
Australian business
confidence remains high
at more than double levels
seen 12 months previously
as demand from China for
raw materials holds up.
ASEAN
Thai business confidence
bounced back robustly
following political unrest but
businesses remain cautious
on how ‘friendly’ the new
Indonesian administration
will be.
Global
-80
2012- 2013- 2014-
-80
2012- 2013- 2014-
-80
2012- 2013- 2014-
-80
2012- 2013- 2014-
-80
2012- 2013- 2014-
-80
2012- 2013- 2014-
-80
2012- 2013- 2014-
-80
2012- 2013- 2014-
-80
2012- 2013- 2014-
-80
2012- 2013- 2014-
-80
2012- 2013- 2014-
-80
2012- 2013- 2014-
-80
2012- 2013- 2014-
82
5
16
55
56
53
28
95
22
3
-80
2012- 2013- 2014-
-80
2012- 2013- 2014-
-80
2012- 2013- 2014-
-80
2012- 2013- 2014-
-80
2012- 2013- 2014-
-80
2012- 2013- 2014-
-80
2012- 2013- 2014-
-80
2012- 2013- 2014-
-80
2012- 2013- 2014-
-80
2012- 2013- 2014-
-80
2012- 2013- 2014-
-80
2012- 2013- 2014-
-80
2012- 2013- 2014-
69
0
43