"Most executives believe that global GDP will grow at the same rate this year as it did in 2014, according to McKinsey’s latest survey on economic conditions. At the regional level, though, the responses suggest less certainty.
In China, executives are notably downbeat about their home economy. The largest shares believe that economic conditions have declined over the past six months—and that conditions will worsen still in the coming months.
Elsewhere, respondents in Europe indicate that geopolitical instability is top of mind as a risk to both domestic and global growth, while executives outside Europe report emerging worries over potential debt defaults and the exit of countries from the eurozone."
The above brief overview, however, must be read in the following context -
(a) While 59% of respondents in China view current conditions worse than 6 months ago, only 40% will say so in 6 months time, suggesting close to a third improvement in expectations of outlook for the next 6 months;
(b) Expectations from respondents in the Asia-Pacific are broadly comparable, with those who say worse compared with 6 months ago down from 25% to 16%.
(c) Treated as a group, emerging market expectations seem to go down during the past year (March-on-March) with 19% expecting that the global economy will get worse in 6 months time.
(d) A large outlier is India with 40% expecting that the global economy is likely to grow even twice faster than last year.
(e) It seems that the overall gloomy forecasts from respondents in emerging markets is a function of negative outlooks in Latin America and Africa, as this doesn't tally with the more buoyant expectations for China and especially India 6 months forward, considering that China and India combined out-size the rest of the emerging economies put together.