Survey spells out export outlook

Privately held businesses across the world expect weak increases in exports, limited opportunities to increase turnover and prices, but only a marginal drop in profitability over the next 12 months, international consultants Grant Thornton said last week. In a survey of over 7 200 private companies across 36 countries, the company found wide variations amongst different economies. While at least 60% of South African companies were positive about the year ahead, others such as Hong Kong and Spain feared the worst. Regionally, the EU emerged as the gloomiest trading bloc with regard to turnover with the most positive being Latin America. "Our advice to businesses in the short term is to focus on cost-cutting and productivity improvements, the company said.