Audit, tax and advisory firm KPMG studies BRIC country (Brazil, Russia, India and China) manufacturing optimism twice a year. When they did this survey in January only an average of 3.6% of some 1,000 manufacturers contacted expected an good things. In news of its most recent survey findings, which you can see here, the optimism index has jumped to 46.5%. How can this be and what does this mean?
Ian Gomes, chairman of KPMG’s High Growth Markets Practice wrote:
“The BRIC manufacturing sector appears to have swiftly returned to strength following the slump in confidence that ensued from last year’s global financial crisis, Robust growth is widely forecast — based on expectations of improving domestic demand, the success of government stimulus measures and signs of stabilisation in the world economy.”