Brussels, 05/12/2007 (Agence Europe) - In spite of the announced economic slowdown, European entrepreneurs remain optimistic. According to a survey published by EUROCHAMBRES on Tuesday 4 December, the level of their expectations is the highest in seven years for all economic indicators. The survey of over 86,000 entrepreneurs from 27 countries (the EU member states, with the exceptions of Ireland and Lithuania, and two applicant countries, Turkey and Croatia) was carried out in September, when uncertainty over growth was less marked. “These results may sound surprising against current forecasts which revise growth for 2008 downwards,” said EUROCHAMBRES President Pierre Simon in a press release. He went to say he believed “the strong trust in the EU's internal market, the considerable potential offered by emerging economies, and positive employment trends so far are among the factors allowing entrepreneurs to feel less vulnerable to external shocks”.
Business confidence, the main indicator, is highest in Denmark. It is lowest in Estonia; Spain, Greece and Hungary are the only other countries with negative balance figures (the difference between the percentage of positive responses minus the percentage of negative responses). The sharpest increase in business confidence compared with last year was recorded in the Czech Republic. Expectations in terms of total turnover, domestic sales, employment and investment are even brighter than they were for 2007. Only prospects for export sales are slightly down on last year. Euro area companies are, however, much more optimistic about their exports in 2008 than non euro area countries, according to the EUROCHAMBRES Economic Survey 2008. The survey is available in English at http://www.eurochambres.eu/PDF/pdf_ees2008/EES2008_all.pdf (A.B.)