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EU business confidence overtakes US - by Scheherazade Daneshkhu
Business confidence in the European Union has overtaken optimism in the US for the first time in five years, according to a survey published on Wednesday by the professional services firm Grant Thornton. The International Business Report, an annual survey of 7,200 owners of private medium and large businesses, showed more optimism in 2007 about the prospects for the economies of the 32 countries surveyed than for last year.
However, when asked about the prospects for growth of their own businesses in terms of sales, US owners were more optimistic than those in the EU.Turkey was unusual in being one of the few countries showing a large drop in optimism about the economy compared with last year, which Grant Thornton attributed to frustrations in the country’s negotiations to join the EU.
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