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- Jo Faragher
Finance professionals in the UK remain cautious, while their French counterparts are pessimistic about their country’s economic outlook – these are some of the findings of the Global Financial Professionals Confidence Survey by job site network eFinancialCareers.
The survey of almost 4,000 finance professionals in the US, UK, France and the Middle East reveals mixed levels of confidence in their domestic and global economies.
Almost half (47%) of UK finance professionals say their confidence in the British economy has not changed over the past six months, while the same proportion does not expect this to change in the next six months. Almost a third (32%) expects the economy to perform better in the next six months, however.
France-based finance professionals are the most pessimistic, according to eFinancialCareers. Its survey found that 63% felt their confidence in the local economy had decreased in the past six months, and only one in ten feel it will improve. Almost half (48%) of those believing the country’s fortunes will decline point to the government’s lack of efficient management of the economy.
Finance workers in the Middle East hold the most positive view, with almost two-thirds confident that the region’s economic situation will improve over the next six months, and 56% believing there has been progress in the last six months.
Optimism prevails in the US, where 43% expect the economy to improve over the next six months, thanks to greater stability of financial markets and recovery in the US housing market. Increased consumer confidence was also a factor behind finance professionals’ sunny outlook.
Interestingly, more than half of UK finance professionals believe that a recovery in US markets will lead to an upturn in fortunes at home, while those who fear a further downturn in the economy cite too much uncertainty within the Eurozone as the key factor.
Around the globe, confidence in the global economy has remained unchanged for most professionals in the U.S., Germany, and France – 51%, 50%, and 46% respectively. Looking ahead, German finance professionals are the most negative, with nearly 4 in ten (37%) believing the global economy will take a turn for the worse.
James Bennett, global MD of eFinancialCareers, said that confidence levels have a natural impact on hiring. “Increased confidence among employees obviously has an overall positive impact. But at the same time, as confidence increases professionals will start thinking about their next career move, and if the opportunity does not exist within their current organization, they make consider jumping ship,” he said.
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