April 16, 2009 2:22:30 pm
Enthused by the stock market rally,an increasing number of Indian executives believe the economy is on a recovery path,although a majority still feel that the worst is not over,a survey says.
“Buoyed by a sustained stock market rally,executive’s attitudes about the state of the Indian economy ticked up in March,though the majority still feel we are in the midst of a severe recession,” a survey by global talent management solutions provider Korn/Ferry International said.
About 24 per cent of executives feel the economy is recovering,while 53 per cent believe it is still in a severe recession,the survey,conducted at the end of March,said.
The per centage of executives,who feel the economy is recovering,has almost doubled since the previous survey,which was conducted at the beginning of March,when only 13 per cent of executives had voted in favour of a recovery.
Further,the number of respondents feeling that the economy is in the middle of a severe recession has come down by eight per cent in the latest survey.
India is technically not in a recession but is facing a slowdown.
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