Global Firm Execs Are Bullish, Says KPMG Market Survey
Large global engineering and construction firms appear to be “surprisingly positive in their outlook toward the future,” according to a new survey of executives by consulting firm KPMG International Inc., New York City. About two-thirds expect profits to hold steady or increase in 2010, and 35% say they have not had to cut any staff. But respondents were mixed on benefits of stimulus programs, and results may be skewed by the high proportion of non-U.S. respondents.
KPMG’s survey results are based on what the firm says were “face-to-face interviews” conducted in mid-2009 with 108 CEOs and other senior executives of firms in 30 countries. The company would not disclose names of respondent firms, but the report notes that nearly 75% had revenue exceeding $250 million and more than 500 employees. A KPMG spokesman says only 12% of executives were from U.S.-based firms. The report also did not identify firms’ market niches.