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Brexit uncertainty hits corporate confidence in Europe: CNA Hardy



(Reuters) – Uncertainty over Britain's departure from the European Union has triggered a sharp decline in corporate confidence in Europe over the past six months. A survey showed on Thursday.

Only 50% of European business leaders said they were confident that their business could grow and prosper compared to 70% in November 2018, the insurer CNA Hardy found the survey.

Only 36% of UK business executives were convinced, slightly lower than 39% in the previous survey

"Hard Brexit is becoming more and more", for continental European and UK business executives, Dave Brosnan, CEO of CNA Hardy, told for Reuters.

Weaker economic conditions and rising populism in Europe are, at the same time, confidence among North American business executives to 59% from 64% earlier, a drop, Mr Brosnan said, was linked to uncertainty in coming elections in Canada and the United Kingdom.

However, in the Asia-Pacific region, 65% of business executives were convinced, an increase from 53% in the latest survey, despite the ongoing trade war between the United States and China.

Mr. Brosnan said it was due to the region's strong natural resources, agriculture and "public resources", which help to isolate it from the trade spatula.

The survey of 1

500 business executives for multinational companies operating in Europe was conducted in February and March 2019.

                    


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