A report from Big Four accounting firm KPMG has found that 90 per cent of Australia’s top bosses are optimistic on the growth prospects of the country’s economies.
Of course, these chief executives are responsible to their shareholders, and nothing harms a company’s share price than a gloomy forecast from those responsible for running it.
Even so, this Pollyanna approach flies in the face of a fluctuating trade tariff regime, multiplying wars in various parts of the globe and spreading domestic chaos in the United States, the world’s largest economy.
Globally, bosses are less certain about the future. Even so 82 per cent expressed confidence about their own economies.
KPMG’s top executive in Australia, Andrew Yates (pictured), says he is “not surprised” that his fellow CEOs are optimistic, citing growth in household spending, a Reserve Bank of Australia interest rate cut and the fact that Australia has so far not received the severe US tariff hit of some other countries.
Even so, with the mercurial US President Donald Trump firmly in place for another three-and-a-half years one wonders whether this might not be a case of whistling into the wind.
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