Business leaders' optimism further slides

Peter Walker, partner of Grant Thornton's business consulting in Thailand, said Thailand's business leaders optimism barometer in 2009 and at the beginning of this year fell from +30 per cent in 2007. The survey was conducted just after the airport closure, when the nationwide economic mood was at an all time low.

"This fall is not surprising given the double-whammy of the global economic woes and local political instability," he said.

Grant Thornton's International Business Report 2009 surveyed senior executives from over 7,000 businesses across 36 countries.

According to the report, optimism among global businesses has slumped by 56 per cent in the last 12 months and pushed the Grant Thornton International optimism/pessimism barometer to a record negative balance of -16 per cent compared with +40 per cent in the same period last year.

This is the first time pessimists have outweighed optimists about the outlook for their economy since the research began in 2003. The survey also shows an overwhelming consensus that falling consumer demand is the biggest threat to businesses.