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Economic Prospects Remain Good, But There Are Reasons to Worry

January 7, 2019 by

Economic cycles are a timeless phenomenon, but a majority of the ELP Members thinks that the next recession is still some time away. More than a third thinks it will happen only in 2021, a quarter says even later and 2.9 per cent states that recessions are behind us and will never happen again. 7.1 Per cent expects the next recession in 2019 and 27.1 per cent opts for 2020. As one respondent remarked: “I look at the opportunities but I also prepare for downsides” or as an Arab proverb says: Trust in Allah but tether your camel.

Looking at the longer term ELP Members are more cautious about developments not so much in a direct business context but in society and the world at large. When asked which issues concern them most in the longer term, 54.0 per cent selects climate change, 48.7 per cent the Fourth Industrial Revolution, which harbours reasons for both joy and worry, and as many as 43.2 per cent of the respondents indicated that they worry about the gap between corporate elites and society, which remains a very topical issue.