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29 October 2008
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Snap Poll – For the Top Competitors in Your Sector, Will Q4 Revenues Decrease? Corporate Executive Board, 28 October 2008 Our quick polls capture current economic trends to inform member thinking. All results will be kept anonymous. |
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China: Report from the Ground Describes Difficult Times DavidIcke.com (blog), 27 October 2008 An anonymous report posted on Financial Times’ Alphaville blog paints a bleak picture of the Chinese economy: factories are shuttered as demand from overseas subsides; letters of credit and 90-day commercial paper are no longer being accepted or transacted; and property prices are down at least 20% in the past few weeks, with 30–40% declines reported in some areas. Related News: How Will China Surprise Us in 2009? (McKinsey Quarterly, October 2008) |
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Eastern European Nations Struggle to Stay Afloat The Christian Science Monitor, 28 October 2008 Eastern European economies that once boasted annual growth rates of nearly 10% are now foundering because of the credit crisis’s impact on capital markets. Governments in the region have borrowed and spent heavily to develop institutions and infrastructure ahead of EU accession. |
Our view: Companies seeking opportunities in emerging markets are often quick to mention Eastern Europe as the next destination for their investment dollars, but the reality is that countries in the region yield uneven returns and need to be assessed individually. Companies looking to invest in the region should pay careful attention to how each country of interest fares in the crisis. Related News: IMF Running Out of Funds as Crisis Spreads to Eastern Europe (The Daily Telegraph, 28 October 2008) |
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Market Volatility Makes It Tough to Project GDP Growth Market Volatility The volatility in financial markets truly has negative impact on firms’ ability to predict regional GDP growth accurately. A survey of CFOs and heads of FP&A this week reveals that companies are forecasting, on average, 0.24% growth for the U.S./North American region, 0.20% growth for European markets, and 2.50% growth for emerging economies. However, individual forecasts ranged up to 10 percentage points. Said one U.S.–based manufacturing company: “We are assuming flat GDP for all regions for the entire year.” Access today’s “Heard in the Suite” for more. |
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Daily Capital Markets Review: Despite Bleak Data, Dow Rebounds with Second Largest Point Gain Corporate Executive Board, 28 October 2008 This summary includes news items regarding global liquidity, the TED spread, commercial paper and T-bill rates, currencies and commodities, and corporate debt spreads and new issuances. If you would like to receive the Review after markets close (instead of the next morning), please click here. |
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