Bosses' confidence bounces back

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Chief executives' confidence is returning to pre-recession levels, according to a global survey by tax and business consultancy firm PricewaterhouseCoopers.

But the research also shows concerns about skills shortages are increasingly playing on their minds.

The worldwide poll of 1201 chief executives in 69 countries found 48 per cent were "very confident" that growth would occur in their businesses over the coming 12 months, up from 31 per cent last year and almost equal to the 50 per cent reached in 2008 before the full impact of the financial crisis hit firms.

Eighty-eight per cent of the chief executives interviewed reported having some level of confidence about the year ahead - up from 81 per cent last year.

PricewaterhouseCoopers' New Zealand chief executive Bruce Hassall said company bosses had emerged from the "bunker mentality" of surviving the recession.

"They now see renewed opportunity for growth, even in the near term, and are determined to take advantage of better global economic conditions and increased customer demands," said Hassall.

"Companies that understand and capitalise on the diverging growth patterns of the developed and emerging economies will be the winners in the years ahead."

The chief executives surveyed considered China the most important country for future growth, followed by the United States, Brazil and India.

Just over half of the chief executives said they planned to recruit more staff over the next 12 months, up from 31 per cent last year.

Only 16 per cent expected to cut jobs at their companies this year, down from 25 per cent in the last survey.

Hassall said worries over skills shortages were becoming apparent. "Two-thirds of CEOs believe they're facing a limited supply of skilled candidates to compete effectively as recoveries take hold."

No interviews were conducted with chief executives of New Zealand firms, although 40 Australian bosses were included in the survey.