Despite Business Improvements, the Euro Zone crisis and Fiscal and Social Policies Continue to Hamper Worldwide Recovery with Debt Downgrades at an Unprecedented Level
D&B (NYSE: DNB) announced the results of its year-end global economic outlook, a comprehensive study based primarily on an analysis of the company’s proprietary business data. Based on D&B’s modeling and country risk analytics, the report provides D&B’s perspective on a review of global business conditions throughout 2012 with a glimpse ahead to 2013. The results confirm not only the sluggish global growth anticipated at the start of the year but the pressing headwinds many markets continue to face heading into 2013.
Since the start of the recovery in 2009, D&B has downgraded the debt rating of 56 countries based on our comprehensive variables, with 32 in 2012 alone — the second highest in its research history — reflecting the instability and fragility of the global economy despite improvements in the business sector.
“Recovering from the Great Recession of 2008 continues to challenge global economies,” said Paul Ballew, chief economist at D&B. “Against that backdrop, the speeds at which companies are shifting business operations, as they continue to restructure, create more efficiency and adaptability to better anticipate future economic conditions. In fact, according to our statistics, business financial health today tops pre-recession levels. Unfortunately these business gains are inhibited by social and political pressures at home and abroad, underscoring the interdependency of today’s global economy.”