The Economic Pulse of the World - October 2014

Despite the ongoing crisis in the Middle East and continuing tensions between Russia and the United States, the global average for national economic assessment remains unchanged for the second month in a row; the local economic assessment average is up one point since last sounding; and the future local average remains unchanged for the fifth straight month.

No change yet in the face of looming trouble

Potentially in response to the current situation in the Middle East we see a declining average of all key players in that region, as well as a decline in the overall regional average.

Saudi Arabia, a key player in the Middle East region, experienced a decline in all three assessment categories: national (84%, -1pts), local (60%, -2pts) and future local (52%, -3pts).

Turkey, dealing with the ongoing refugee crisis and calls for greater involvement in the fight against ISIS, also experienced a decline in all assessment categories, most noticeably in the future local assessment (22%, -7pts).

Egypt is being the only bright spot, experiencing significant gains in the national economic assessment average (68%, up 7pts).

Global average of national economic assessment unchanged: 40%

Holding steady for the second month in a row, the average global economic assessment of national economies surveyed in 24 countries remains unchanged as 40% of global citizens rate their national economies to be ‘good’.

Even after losing some ground since last sounding, Saudi Arabia (84%) remains at the  top of the national economic assessment, followed by India (80%), Germany (79%), Sweden (77%) and China (74%). A small minority in France (5%) rate their national economy as good, followed by Italy (7%), Romania (9%), Spain (10%), Hungary (16%) and South Korea (16%).

Countries with the greatest improvements in this wave:  India (80%, +8 pts.), Sweden (77%, +7 pts.), Egypt (68%, +7 pts.), Germany (79%, +4 pts.), Poland (28%, +2 pts.), South Africa (26%, +2pts.) and Romania (9%. +2pts).

Countries with the greatest declines: Russia (53%, -6 pts.), Japan (22%, -5 pts.), Argentina (19%, -5 pts.), Canada (65%, -3 pts.), Great Britain (42%, -3pts) and Belgium (37%, -3 pts.).

Global average of local economic assessment (29%) up one point

When asked to assess their local economies, 29% agree the state of the current economy in their local area is ‘good,’ on the global aggregate level. The local economic assessment is up one point since last sounding.

Saudi Arabia (60%) leads the local economy assessment ratings, followed by Sweden (59%), Germany (57%), China (56%), India (52%), Canada (46%), and Australia (41%). Spain (9%) and Italy (9%) share the last place in the assessment, followed by Romania (10%), Japan (11%), France (12%), Hungary (12%) and South Korea (14%).

Countries with the greatest improvements in this wave: Sweden (59%, +8 pts.), Germany (57%, +5 pts.), India (52%, +5 pts.), Brazil (30%, +5 pts.) and China (56%, +3pts.).

Countries with the greatest declines: Turkey (33%, -6 pts.), Belgium (20%, -4 pts.), South Africa (19%, -3 pts.), Saudi Arabia (60%, -2 pts.), Argentina (15%, -2 pts.) and Japan (11%, -2 pts.).

Global average of future outlook for local economy (25%) unchanged

No change for the fifth month in a row, as one quarter (25%) of global citizens expect their local economy will be stronger six months from now.

India (61%) retains the top spot in the future outlook assessment rating. The rest of the highest-ranking countries are: Brazil (57%), Egypt (52%), Saudi Arabia (52%), China (41%), Argentina (31%) and Mexico (30%).  France (2%) remains at the bottom of the pack, followed by Italy (10%), Belgium (11%), South Korea (11%), Japan (12%), Romania (12%) Hungary (13%) and Sweden (13%).

Countries with the greatest improvements in this wave: India (71%, +10 pts.), Mexico (30%, +4 pts.), Australia (19%, +4 pts.), Spain (20%, +2 pts.), Canada (18%, +2 pts.), Germany (18%, +2 pts.), South Africa (18%, +2 pts.) and Hungary (13%, +2 pts.).

Countries with the greatest declines: Russia (27%, -7 pts.), Turkey (22%, -7 pts.), Argentina (31%, -4 pts.), Saudi Arabia (52%, -3 pts.), Egypt (52%, -2 pts.), the United States (21%, -2pts.) and Italy (10%, -2 pts.).