There is also less optimism among finance professionals in China itself -with business confidence there close to its lowest reading since GECS
, the largest regular survey of accountants around the world, showed that finance professionals were gloomier than at any time since 2011, and that the emerging markets of the Asia Pacific region, in particular, have suffered the deepest slump.
reports a "growing sense that the global economy is moving into a sustained recovery" but notes that firms were still quick to cut staff when faced with uncertainty: 41% of respondents said that their firm had cut staff or halted recruiting in the second quarter-nearly twice the number that increased staff levels in the same period.
That and the results from the GECS
report demonstrate the continued need for companies to place greater emphasis on developing, maintaining, and enforcing a strong ethical culture.
operates 26 different businesses, ranging from commercial real estate and credit cards to the leasing of satellites, airplanes, and trucks.
Raef Lawson, IMA's Vice President of research concluded, "The slowdown in Asia; the Eurozone debt crisis; the sluggish US recovery; all are feeding into each other and no region is unaffected; in fact, the degree to which movements in the GECS
indices are synchronised between regions is uncanny.
a) Refers to the Industrial businesses of the Company including GECS
on an equity basis.
With demand and new orders proving resilient and capital spending also on the rise, the Middle East's labour market also appears to be becoming more dynamic, with progressively more organisations in the GECS
sample hiring and firing in each of the last three quarters.
This includes the effects of intercompany transactions, including GE customer receivables sold to GECS
services for trade receivables management and material procurement; buildings and equipment (including automobiles) leased between GE and GECS
; information technology (IT) and other services sold to GECS
by GE; aircraft engines manufactured by GE that are installed on aircraft purchased by GECS
from third-party producers for lease to others; and various investments, loans and allocations of GE corporate overhead costs.
3 billion last year, primarily reflecting the lack of a GECS
dividend payment in 2009.
8 billion, down 42% from last year, primarily reflecting the lack of a GECS
dividend payment in 2009 and lower progress collections, which were offset by improvements in working capital.
revenues fell 18% from the fourth quarter of 2007.