CEOs here expect recession; many delay or halt investments: Survey

Local bosses are in full agreement that a recession is in store this year with many planning to delay or halt planned investments, a new survey noted.

- Rosalind Ang

It also found that 50 per cent of the 1,200 chief executives polled globally last November, including 40 here, expect a severe or persistent downturn, with about half of them fearing a worse recession than the one stemming from the global financial crisis of 2007 to 2008.

Regionalisation, scarcity and cost of talent, and inflation were listed as the top three risks threatening business growth.

Other challenges cited incl led monetary policy uncertainty, restrictive regulatory environments caused by increasing fragmentation of the global economy, cyber-security risks and heightened geopolitical tensions.