Economic confidence on the rise

Several economic key indicators point to an economic turnaround. The conference board in the US reported that consumer confidence jumped 14 percent between July and August. The Index has more than doubled since March and now stands at 54.1. The Wall Street Journal revised after another stare into its crystal ball its earlier pessimism about the economy as reported in July, when it wrote the economy would loose 70000 jobs a month next year. The figure is now revised to 27000. Go figure.

In my view, the number of search assignments in the region of 36 countries where we have offices, is rising steadily since March. Though some of those countries, notably the ones in Central Asia, can be described as "non-integrated" emerging markets and follow their own dynamics, the rise in assignments is evenly spread across the geography. US multinationals are one by one awaking from their nuclear winter slumber, realizing downsizing, terminating, reducing and reengineering cuts costs, but also the prospects for future revenue growth.

Shurely it won't be a nuclear autumn. Stay tuned.