Ipsos Global @dvisor 28: The economic pulse of the world: January 2012

Global @d isorGlobal@dvisor

The Economic Pulse of the WorldCitizens in 24 Countries Assess the Current State of their Country’s Economy for a Total Global Perspective

A Global@dvisory – January 2012 – G@28The Economic Pulse

These are the findings of the Global@dvisor Wave 28 (G@28),an Ipsos survey conducted between December 6th and December 19th, 2011.

SURVEY METHOD COUNTRIES SAMPLE WEIGHTING

• The survey instrument is conducted monthly in 24 countries around the world via the Ipsos Online Panel system.

• The countries reporting herein are Argentina, Australia, Belgium, Brazil, Canada, China, France, Germany, Great Britain Hungary India

• For the results of the survey presented herein, an international sample of 21,245 adults age 18-64 in the US and Canada and age 16-64 in all

• Weighting was then employed to balance demographics and ensure that the sample's composition reflects that of the adult population according toGreat Britain, Hungary, India,

Indonesia, Italy, Japan, Mexico, Poland, Russia, Saudi Arabia, South Africa, South Korea, Spain, Sweden, Turkey and the United States of America

Canada, and age 16 64 in all other countries, were interviewed. Approximately 1000+ individuals participated on a country by country basis via the Ipsos Online Panel with the exception of Argentina

adult population according to the most recent country Census data, and to provide results intended to approximate the sample universe. A survey with an unweighted probability sampleAmerica. the exception of Argentina,

Belgium, Indonesia, Mexico, Poland, Russia, Saudi Arabia, South Africa, South Korea, Sweden and Turkey, where each have a sample approximately 500+

unweighted probability sample of this size and a 100% response rate would have an estimated margin of error of +/-3.1 percentage points for a sample of 1,000 and an estimated margin of error of +/approximately 500+. estimated margin of error of +/-4.5 percentage points 19 times out of 20 per country of what the results would have been had the entire population of adults in that country had been

ll d All l dpolled. All sample surveys and polls may be subject to other sources of error, including, but not limited to coverage error, and measurement error.

2A Global@dvisory – January 2012 – G@28

The Economic Pulse

Analytic Components… There are three analytic components that make up the findings of this monthly Economic Pulse report.

Each question is tracked and analyzed from questions dealing with:

Th tl i d i t t f

• Thinking about our economic situation, how would you describe the current

The currently perceived macroeconomic state of the respondent’s country:

economic situation in [insert country]? Is it very good, somewhat good, somewhat bad or very bad?

• Rate the current state of the economy in your local area using a scale from 1 to 7, here 7 means a er strong econom toda and 1 means a er eak econom

The currently perceived state of the local economy:

where 7 means a very strong economy today and 1 means a very weak economy.

A six month outlook for the local economy:

• Looking ahead six months from now, do you expect the economy in your local area to be much stronger, somewhat stronger, about the same, somewhat weaker, or much weaker than it is now?


The Economic Pulse

much weaker than it is now?

SUMMARYSUMMARY


The Economic Pulse

A Global Pause

December economic confidence assessment levels softened this wave, in step with the trend seen for the second half of 2012: up one point one month, down one point the next, ending off in December with a one-point dip to 38% of global citizens , g p p % gassessing current national economic conditions in their country as “good”.

Despite the subtle zig-zag, the aggregate assessment rating of national economies h i d ti ll h d Thi t d i i d b l k f t thihas remained essentially unchanged. This trend is mirrored by a lack of movement this sounding by the global assessments of current local economic conditions (29% ‘strong’) and expectations of the future of the local economy (24% ‘stronger’). The relative stability seems to imply a global pause, as the world took a deep breath y p y g p , pin December, waiting to see what 2012 will bring.

But on the regional level, the economic assessments show more variation. In fact, e er geographic region e perienced some mo ement this so nding onevery geographic region experienced some movement this sounding on assessments of their national economy. The Middle East and Africa (59%) improved one point while North America (42%) improved two points. Latin America (46%) declined three points, Asia-Pacific (42%) declined two points and Europe (23%), ( ) p , ( ) p p ( ),already in last place by a painful margin, softened an additional point.

– Europe’s declining figures are dragged in particular by Belgium, which dropped 17 points since its 2011 highpoint in April. Since May, Italy has dropped eight points, Great Britain five points, and even juggernaut Germany, a global leader, is showing a modest decline of four points


The Economic Pulse

and even juggernaut Germany, a global leader, is showing a modest decline of four points since May.

The United States: Hints at an Upswing?

The last quarter of 2011 proved quite interesting in North America. On predictions of the future of their l l i A i i d i ht i t oc

al

local economies, Americans improved eight points and have overtaken the Canadians.

– US (23%) vs. Canada (19%) reporting they expect the future of their local economies to be ‘stronger’ 17%

23%15%

19% Futu

re

Lo

g

America’s hopefulness comes at a time when both national and local economic assessments trended

17% 19% F

upwards last quarter.– 21% say national economy is “good”, +6 pts since Sept– 23% say local economy is ‘strong’, +5 pts since Sept

18% 23%

48% 45% Loca

l

Canada continues to be a global leader on economic confidence, though its national and local assessments are both reporting three points lower

18% 23%

alassessments are both reporting three points lower this sounding than in September.

– 63% say national economy is “good”, -3 pts since Sept– 45% say local economy is ‘strong’, -3 pts since Sept 15% 21%

66% 63%

Nat

iona


The Economic Pulse

% y y g , p p 15% 21%

THE WORLD at a GLANCE

THETHE WORLDWORLD at aat a GLANCE


The Economic Pulse

One Point Dip for the Global Average of National Economic Assessments (38%)

The global aggregate assessment of national economies inches back downwards one point this month to 38% of global citizens reporting current economic conditions in their country are “good”are good .

The polls finds Saudi Arabia (86%) has inspired the most economic confidence among its residents, by a wide margin. Consistent global leaders Sweden (74%), Australia (68%), India (68%) d C d (63%) t t il b hi d S di A bi ’ i ti l(68%) and Canada (63%) appear to trail behind Saudi Arabia’s near unanimous national economic assurance.

The people of Hungary (2%), Spain (4%), Italy (5%), France (5%), Japan (8%) and GreatThe people of Hungary (2%), Spain (4%), Italy (5%), France (5%), Japan (8%) and Great Britain (8%) appear to find little reason to have confidence in their national economies.

Countries with the greatest improvements: Russia (+5 to 30%), Turkey (+4 to 58%), the U it d St t ( 2 t 21%) A t li ( 1 t 68%) C d ( 1 t 63%) S d ( 1 tUnited States (+2 to 21%), Australia (+1 to 68%), Canada (+1 to 63%), Sweden (+1 to 74%), Spain (+1 to 4%) and Japan (+1 to 8%).

Countries with the greatest declines: South Korea (-5 to 21%), Belgium (-5 to 19%),Countries with the greatest declines: South Korea ( 5 to 21%), Belgium ( 5 to 19%), Indonesia (-4 to 46%), Saudi Arabia (-3 to 86%), Germany (-3 to 61%), Argentina (-3 to 52%) and Brazil (-3 to 56%).


The Economic Pulse

No Change for the Global Average of Local Economic Assessment (29%)

The global average of local economic assessment among the 24 countries remains unchanged again this month with three in ten (29%) citizens rating their current local economies as “good ”economies as good.

When asked to assess their local economies, a 16-point gap exists between Saudi Arabia (64%) and runners up China (48%), India (48%) and Sweden (48%). Australia (47%) and B il (46%) t i liBrazil (46%) are next in line.

Japan (5%) sits in last place on this measure, followed by Spain (6%), Hungary (7%), Italy (10%) and France (12%).(10%) and France (12%).

Countries with the greatest improvements: Sweden (+5 to 48%), the United States (+4 to 23%), Poland (+2 to 21%), Canada (+1 to 45%), Russia (+1 to 19%), Turkey (+1 to 45%)

d A t li ( 1 t 47%)and Australia (+1 to 47%).

Countries with the greatest declines: Saudi Arabia (-3 to 64%), Brazil (-3 to 46%), Germany (-2 to 41%), Spain (-2 to 6%), South Africa (-2 to 23%), Belgium (-2 to 14%) and Argentina( 2 to 41%), Spain ( 2 to 6%), South Africa ( 2 to 23%), Belgium ( 2 to 14%) and Argentina (-2 to 34%).


The Economic Pulse

Global Average of Future Outlook for Local Economy Remains Unchanged (24%) Since August 2011

When asked to look ahead six months from now, one quarter (24%) of them expect the economy in their local area to be “stronger,” a figure that has remained unchanged since August of last yearAugust of last year.

This wave shows, yet again, that Brazil’s future outlook trumps all the rest with seven in ten (71%) reporting they expect their local economies to be stronger. Saudi Arabia (60%) falls

t f ll d b I di (50%) A ti (45%) M i (39%) d I d i (37%)next, followed by India (50%), Argentina (45%), Mexico (39%) and Indonesia (37%).

Almost no one in France (2%) seems to express confidence in the future of their local economy. Similarly, those in Hungary (3%), Belgium (5%), Japan (7%) and Great Britaineconomy. Similarly, those in Hungary (3%), Belgium (5%), Japan (7%) and Great Britain (7%) rank last on this measure.

Countries with the greatest improvements: Turkey (+7 to 35%), Saudi Arabia (+6 to 60%), I d i ( 5 t 37%) S i ( 4 t 21%) P l d ( 3 t 16%) d th U it d St t ( 3 tIndonesia (+5 to 37%), Spain (+4 to 21%), Poland (+3 to 16%) and the United States (+3 to 23%).

Countries with the greatest declines: China (-10 to 32%), Italy (-9 to 12%), Sweden (-4 toCountries with the greatest declines: China ( 10 to 32%), Italy ( 9 to 12%), Sweden ( 4 to 12%), South Africa (-4 to 16%) and Hungary (-3 to 3%).


The Economic Pulse

1. National Economic Assessments: Countries at a Glance Compared to the Last Wave…

Those Countries Where the Country Economic Assessment…

is has experienced an has experienced a isisHIGHEST

this month

has experienced an IMPROVEMENT

since last sounding

has experienced a DECLINE

since last sounding

isLOWEST

this monthSaudi Arabia 86% Russia 5 China 7 Hungary 2%Saudi Arabia 86% Russia 5 China 7 Hungary 2%

Sweden 74% Turkey 4 South Korea 5 Spain 4%Australia 68% United States 2 Belgium 5 Italy 5%

India 68% Australia 1 Indonesia 4 France 5%Canada 63% Canada 1 Saudi Arabia 3 Japan 8%

Germany 61% Sweden 1 Germany 3 Great Britain 8%Turkey 58% Spain 1 Argentina 3 Belgium 19%Brazil 56% Japan 1 Brazil 3 United States 21%pChina 55% Mexico 2 South Korea 21%

Great Britain 2France 2P l d 1Poland 1

Hungary 1Italy 1

India 1


The Economic Pulse

Thinking about our economic situation, how would you describe the current economic situation in [insert country]? Is it very good, somewhat good, somewhat bad or very bad?

1. National Economic Assessment: Regions at a Glance Compared to the Last Wave…

CHANGEREGION(in descending order by NET)

NET‘Good’

CHANGE(since last sounding)

Middle East/Africa 59% 1%Middle East/Africa 59% 1%BRIC 52% 2%

LATAM 46% 3%North America (Can/US) 42% 2%North America (Can/US) 42% 2%

APAC 42% 2%G8 25% N/C

Europe 23% 1%Europe 23% 1%


The Economic Pulse

Thinking about our economic situation, how would you describe the current economic situation in [insert country]? Is it very good, somewhat good, somewhat bad or very bad?

2. Local Economic Assessment: Countries at a Glance Compared to the Last Wave…

Those Countries Where the Local Area Economic Assessment…

is has experienced an has experienced a isisHIGHEST

this month


since last sounding


since last sounding

isLOWEST

this month

Saudi Arabia 64% Sweden 5 Saudi Arabia 3 Japan 5%

China 48% United States 4 Brazil 3 Spain 6%

India 48% Poland 2 Germany 2 Hungary 7%

Sweden 48% Canada 1 Spain 2 Italy 10%

Australia 47% Russia 1 South Africa 2 France 12%

Brazil 46% Turkey 1 Belgium 2 Great Britain 13%

Canada 45% Australia 1 Argentina 2 Belgium 14%

Turkey 45% Mexico 1 South Korea 17%

Indonesia 1 Russia 19%

J 1 P l d 21%Japan 1 Poland 21%

Hungary 1

South Korea 1


The Economic Pulse

Rate the current state of the economy in your local area using a scale from 1 to 7, where 7 means a very strong economy today and 1 means a very weak economy

2. Local Economic Assessment: Regions at a Glance Compared to the Last Wave…

NETREGION(in descending order by NET)

NET‘Strong’

Top 3 Box (5-6-7)


Middle East/Africa 44% 2%Middle East/Africa 44% 2%BRIC 40% 1%

North America 34% 2%LATAM 34% 2%LATAM 34% 2%

APAC 31% N/CG-8 Countries 21% N/C

E 19% N/CEurope 19% N/C


The Economic Pulse


3. Six Month Outlook on the Local Economy: Countries at a Glance Compared to the Last Wave…

Countries where the Assessment of the Local Economic Strengthening …

isHIGHEST

this month


since last sounding


since last sounding

isLOWEST

this month

Brazil 71% Turkey 7 China 10 France 2%

Saudi Arabia 60% Saudi Arabia 6 Italy 9 Hungary 3%

India 50% Indonesia 5 Sweden 4 Belgium 5%

Argentina 45% Spain 4 South Africa 4 Japan 7%

Mexico 39% Poland 3 Hungary 3 Great Britain 7%

Indonesia 37% United States 3 South Korea 2 Sweden 12%

Turkey 35% Japan 1 Russia 2 South Korea 12%

China 32% Belgium 1 Great Britain 2 Italy 12%Germany 2 Germany 13%Australia 2 Russia 15%Australia 2 Russia 15%

Argentina 2Brazil 1


The Economic Pulse

Looking ahead six months from now, do you expect the economy in your local area to bemuch stronger, somewhat stronger, about the same, somewhat weaker, or much weaker than it is now?

3. Six Month Outlook on Local Economy: Regions at a Glance Compared to Last Wave…

REGION NET CHANGEREGION(in descending order by NET)

NET‘Stronger’


LATAM 51% 2%BRIC 42% 3%

Middle East/Africa 37% 3%APAC 24% 2%APAC 24% 2%

North America 21% 2%G-8 Countries 12% 2%

Europe 10% 1%Europe 10% 1%


The Economic Pulse


DETAILED FINDINGSDETAILED FINDINGS


The Economic Pulse

Assessing The Current Economic Sit tiSituation …

…in Their Countryy


The Economic Pulse

Detailed Tables B.3

Global Citizens Assess the Current Economic Situation in their Country as “Good”

38%86%

74%

TotalSaudi Arabia

Sweden

‘Very Good / Somewhat Good’

74%68%68%

63%61%

SwedenAustralia

IndiaCanada

Germany58%

56%55%

52%46%

TurkeyBrazilChina

ArgentinaIndonesia 46%

32%30%30%

27%

IndonesiaSouth Africa

MexicoRussiaPoland %

21%21%

19%8%

South KoreaUnited States

BelgiumGreat Britain

8%5%5%

4%2%

JapanFrance

ItalySpain

Hungary


The Economic Pulse

Now thinking about our economic situation, how would you describe the current economic situation in [insert country]? Is it very good, somewhat good, somewhat bad or very bad?

2%Hungary

Global Average Tracked - Global Citizens Assess the Current Economic Situation in their Country as “Good”:… 1

Total Good

56% 55%60%

70%

Total Good

45%

32%

29%

38% 38% 39% 39% 40% 41% 40% 42% 41% 41% 40% 41%38% 40% 41% 40% 40% 38% 39% 38% 39% 38%

40%

50%

10%

20%

30%

0%

10%

Apr

/07

Oct

/07

Apr

/08

Nov

/08

Apr

/09

v/Ja

n/10

Apr

/10

May

/10

Jun/

10

Jul/1

0

Aug

/10

Sept

/10

Oct

/10

Nov

/10

Dec

/10

Jan/

11

Feb/

11

Mar

/11

Apr

/11

May

/11

Jun/

11

Jul/1

1

Aug

/11

Sept

/11

Oct

/11

Nov

/11

Dec

/11

Nov

S S


The Economic Pulse

Now thinking about our economic situation, how would you describe the current economic situation in [insert country]?Is it very good, somewhat good, somewhat bad or very bad?

For All Countries Tracked: Citizens Assess theCurrent Economic Situation in their Country as “Good”

Nov/09Jan/10

Mar‘10

Apr‘10

May ‘10

Jun‘10

July‘10

Aug‘10

Sep ‘10

Oct‘10

Nov‘10

Dec‘10

Jan‘11

Feb‘11

Mar‘11

Apr‘11

May‘11

Jun‘11

Jul‘11

Aug‘11

Sept‘11

Oct‘11

Nov‘11

Dec‘11


Argentina 28% 21% 25% 27% 39% 34% 36% 38% 35% 42% 39% 45% 41% 43% 46% 46% 47% 50% 50% 59% 54% 55% 52%Australia 82% 80% 73% 74% 72% 72% 72% 77% 78% 74% 75% 78% 72% 70% 70% 73% 66% 64% 56% 61% 62% 67% 68%Belgium 28% 29% 22% 23% 22% 29% 33% 36% 29% 28% 31% 34% 39% 36% 41% 40% 42% 41% 37% 31% 25% 24% 19%

Brazil 72% 59% 60% 65% 65% 55% 60% 58% 66% 64% 62% 56% 61% 53% 52% 51% 51% 53% 52% 55% 55% 59% 56%Canada 60% 65% 67% 64% 68% 68% 65% 68% 63% 63% 62% 68% 68% 64% 68% 69% 69% 72% 73% 66% 66% 62% 63%% % % % % % % % % %

China 78% 80% 82% 78% 77% 74% 77% 75% 79% 74% 72% 74% 73% 67% 75% 68% 68% 66% 61% 65% 65% 62% 55%France 14% 11% 9% 8% 6% 9% 12% 10% 10% 12% 12% 11% 10% 10% 8% 11% 12% 8% 12% 7% 6% 7% 5%

Germany 44% 37% 45% 37% 38% 48% 55% 56% 64% 67% 63% 64% 64% 62% 67% 68% 68% 71% 66% 63% 64% 64% 61%Great Britain 14% 17% 17% 13% 13% 13% 16% 16% 12% 16% 13% 15% 12% 8% 10% 15% 13% 10% 11% 17% 11% 10% 8%

H 7% 4% 8% 8% 8% 9% 11% 7% 13% 7% 6% 3% 5% 3% 6% % 6% % 4% 4% 2% 3% 2%Hungary 7% 4% 8% 8% 8% 9% 11% 7% 13% 7% 6% 3% 5% 3% 6% 5% 6% 5% 4% 4% 2% 3% 2%India 82% 83% 86% 85% 85% 78% 80% 82% 88% 88% 87% 76% 77% 73% 76% 73% 71% 62% 69% 69% 75% 69% 68%

Indonesia - 49% 52% 52% 49% 51% 39% 49% 54% 45% 48% 37% 38% 40% 46% 47% 40% 41% 36% 42% 35% 50% 46%Italy 24% 17% 17% 14% 16% 16% 17% 14% 16% 11% 14% 11% 14% 12% 10% 14% 10% 10% 8% 8% 8% 6% 5%

Japan 8% 7% 7% 6% 9% 6% 8% 7% 8% 6% 9% 6% 8% 8% 7% 9% 8% 8% 6% 8% 6% 7% 8%Mexico 21% 20% 20% 23% 21% 25% 22% 23% 25% 20% 25% 25% 33% 22% 25% 27% 29% 34% 33% 25% 28% 32% 30%Poland 42% 41% 47% 45% 46% 42% 33% 33% 29% 30% 28% 23% 29% 19% 23% 22% 20% 24% 28% 27% 30% 28% 27%Russia 24% 24% 28% 30% 30% 24% 37% 27% 28% 29% 27% 26% 25% 26% 26% 26% 29% 25% 26% 27% 23% 25% 30%

Saudi Arabia - 73% 76% 80% 73% 80% 81% 78% 76% 81% 81% 80% 81% 85% 87% 89% 89% 87% 88% 89% 83% 89% 86%South Africa 38% 44% 41% 34% 56% 45% 41% 46% 41% 51% 45% 45% 40% 41% 43% 42% 38% 39% 34% 39% 32% 32%South Africa - 38% 44% 41% 34% 56% 45% 41% 46% 41% 51% 45% 45% 40% 41% 43% 42% 38% 39% 34% 39% 32% 32%South Korea 28% 29% 32% 31% 34% 34% 30% 35% 32% 37% 39% 34% 38% 22% 25% 29% 27% 27% 18% 21% 18% 26% 21%

Spain 10% 5% 5% 6% 5% 10% 10% 9% 10% 7% 7% 4% 6% 6% 8% 6% 6% 7% 6% 3% 5% 3% 4%Sweden 58% 58% 56% 60% 63% 71% 73% 72% 77% 75% 75% 82% 80% 71% 78% 76% 76% 77% 70% 74% 69% 73% 74%Turkey 51% 35% 44% 40% 44% 37% 45% 39% 43% 41% 41% 46% 47% 43% 49% 50% 51% 57% 48% 61% 59% 54% 58%


The Economic Pulse

United States 20% 17% 25% 23% 18% 17% 15% 15% 18% 20% 19% 20% 20% 19% 17% 23% 19% 19% 14% 15% 14% 19% 21%

Countries Ranked and Marked By Change In Assessment From Last Month (Left Column) Thinking about our economic situation, how would you describe the current economic situation in [insert

country]? Is it very good, somewhat good, somewhat bad or very bad?

% Very Good / Somewhat Good

38%30%

Total (-1)Russia (+5)

58%21%

68%63%

74%

Turkey (+4)United States (+2)

Australia (+1)Canada (+1)Sweden (+1) 74%

4%8%

32%68%

Sweden (+1)Spain (+1)Japan (+1)

South Africa (N/C)India (-1)

Green marks countries experiencing improvement;Blue marks countries with no change from last month; Red marks countries experiencing a decline…

68%5%

2%27%

5%

India ( 1)Italy (-1)

Hungary (-1)Poland (-1)France (-2)

8%30%

56%52%

Great Britain (-2)Mexico (-2)

Brazil (-3)Argentina (-3)

61%86%

46%19%

21%

Germany (-3)Saudi Arabia (-3)

Indonesia (-4)Belgium (-5)

S th K ( 5)


The Economic Pulse

21%55%

South Korea (-5)China (-7)

Countries Ranked by Net Improvement, Decline or No Change Compared to Last Month: Thinking about our economic situation, how would you describe the current economic situation in [insert country]? Is it very good, somewhat good, somewhat bad or very bad?

5%4%

-15% -10% -5% 0% 5% 10% 15%

Russia (+5)Turkey (+4)

2%1%1%1%

United States (+2)Australia (+1)

Canada (+1)Sweden (+1)

1%1%

0%-1% India (-1)

Spain (+1)Japan (+1)

South Africa (N/C)

-1%-1%-1%

-2%

Italy (-1)Hungary (-1)Poland (-1)France (-2)

-2%-2%

-3%-3%

Great Britain (-2)Mexico (-2)Brazil (-3)Argentina (-3)

-3%-3%

-4%-5%5%

Germany (-3)Saudi Arabia (-3)Indonesia (-4)Belgium (-5)S th K ( 5)


The Economic Pulse

-5%-7%

South Korea (-5)China (-7)

Assessing the Current Economic Situation by All Regions: Current Tracked Status:

71%

80%


64%

61%51%

59%60%

70%

45%

46%

42%

51% 52%

40%

50%

42%

25%30%

23%

10%

20%

07 07 08 08 09 10 10 10 10 10 10 10 10 10 10 10 11 11 11 11 11 11 11 11 11 11 11 11

Apr

/0

Oct

/0

Apr

/0

Nov

/0

Apr

/0

Nov

/Jan

/1

Mar

/1

Apr

/1

May

/1

Jun/

1

Jul/1

Aug

/1

Sept

/1

Oct

/1

Nov

/1

Dec

/1

Jan/

1

Feb/

1

Mar

/1

Apr

/1

May

/1

Jun/

1

Jul/1

Aug

/1

Sept

/1

Oct

/1

Nov

/1

Dec

/1

North America (Can/US) LATAM Europe APAC G8 BRIC Middle East/Africa


The Economic Pulse


North American (Canada/US) CountriesAssessing the Current Economic Situation 2

90%

100%‘Very Good / Somewhat Good’

80%

63%70%

80%

47%

40%

50%

60%

21%20%

30%

40%

0%

10%

07 07 08 08 09 10 10 10 10 10 10 10 10 10 10 10 11 11 11 11 11 11 11 11 11 11 11 11

Apr

200

Oct

200

Apr

200

Nov

200

Apr

200

Nov

/Jan

201

Mar

201

Apr

201

May

201

Jun

201

Jul 2

01

Aug

201

Sept

201

Oct

201

Nov

201

Dec

201

Jan

201

Feb

201

Mar

/1

Apr

/1

May

/1

Jun/

1

Jul/1

Aug

/1

Sept

/1

Oct

/1

Nov

/1

Dec

/1

United States Canada


The Economic Pulse



LATAM CountriesAssessing the Current Economic Situation 3

70%

80%


56%

50%

60%

70%

42%52%

30%

40%

50%

20%

30%

0%

10%

07 07 08 08 09 10 10 10 10 10 10 10 10 10 10 10 11 11 11 11 11 11 11 11 11 11 11 11

Apr

-0

Oct

-0

Apr

-0

Nov

-0

Apr

-0

Nov

-09/

Jan-

1

Mar

-1

Apr

-1

May

-1

Jun-

1

Jul-1

Aug

-1

Sept

-1

Oct

-1

Nov

-1

Dec

-1

Jan-

1

Feb-

1

Mar

-1

Apr

-1

May

-1

Jun-

1

Jul-1

Aug

-1

Sept

-1

Oct

-1

Nov

-1

Dec

-1

Brazil Argentina Mexico


The Economic Pulse



European CountriesAssessing the Current Economic Situation 1

82%

80%

90%


64%

60%

70%

80%

34%40%

50%

11%23%20%

30%

11%4%

15%11%

5%0%

10%

-11

-11

-11

-11

-11

-11

-11

-11

-11

-11

-11

-11

Jan-

Feb-

Mar

-

Apr

-

May

-

Jun-

Jul-

Aug

-

Sept

-

Oct

-

Nov

-

Dec

-

Germany France Spain Sweden Great Britain Belgium Italy Hungary Poland


The Economic Pulse


APAC CountriesAssessing the Current Economic Situation 2

90%90%

100%


78%

88%

69%65%70%

80%

55%49%

46%

40%

50%

60%

30%

16%

27%

21%20%

30%

40%

8%

0%

10%

07 07 08 08 09 10 10 10 10 10 10 10 10 10 10 10 11 11 11 11 11 11 11 11 11 11 11 11

Apr

-0

Oct

-0

Apr

-0

Nov

-0

Apr

-0

Nov

-09/

Jan-

1

Mar

-1

Apr

-1

May

-1

Jun-

1

Jul-1

Aug

-1

Sep-

1

Oct

-1

Nov

-1

Dec

-1

Jan-

1

Feb-

1

Mar

-1

Apr

-1

May

-1

Jun-

1

Jul-1

Aug

-1

Sept

-1

Oct

-1

Nov

-1

Dec

-1


The Economic Pulse


Australia China India Japan Russia South Korea Indonesia

G8 CountriesAssessing the Economic Situation N/C

90%

100%‘Very Good / Somewhat Good’

80%

63%65%70%

80%

55%

59% 61%

47%40%

50%

60%

27%

28% 30%

21%20%

30%

40%

5%8%

0%

10%

r-07 t-0

7

r-08

v-08

r-09

n-10

r-10

r-10

y-10

n-10 l-1

0

g-10 t-1

0

t-10

v-10

c-10

n-11

b-11

r-11

r-11

y-11

n-11 l-1

1

g-11 t-1

1

t-11

v-11

c-11

Apr Oct

Apr

Nov Apr

Nov

-09/

Jan

Mar

Apr

May Jun

Jul

Aug

Sept

Oct

Nov Dec Jan

Feb

Mar

Apr

May Jun

Jul

Aug

Sept

Oct

Nov Dec

G C G S


The Economic Pulse


Great Britain Canada France Germany Italy Japan Russia United States

BRIC CountriesAssessing the Economic Situation 2

90%90%

100%


65%

88%

68%70%

80%

55%

40%

50%

60%

42%30%

20%

30%

40%

0%

10%

07 07 08 08 09 10 10 10 10 10 10 10 10 10 10 10 11 11 11 11 11 11 11 11 11 11 11 11

Apr

-0

Oct

-0

Apr

-0

Nov

-0

Apr

-0

Nov

09/

Jan

1

Mar

-1

Apr

-1

May

-1

Jun-

1

Jul-1

Aug

-1

Sept

-1

Oct

-1

Nov

-1

Dec

-1

Jan-

1

Feb-

1

Mar

-1

Apr

-1

May

-1

Jun-

1

Jul-1

Aug

-1

Sept

-1

Oct

-1

Nov

-1

Dec

-1


The Economic Pulse


Brazil Russia India China

Middle East/African CountriesAssessing the Economic Situation 1

90%

100%


73%86%

70%

80%

51%58%

38%50%

60%

32%

20%

30%

40%

0%

10%

10 10 10 10 10 10 10 10 10 10 10 11 11 11 11 11 11 11 11 11 11 11 11

N09

/J1

Mar

-1

Apr

-1

May

-1

Jun-

1

Jul-1

Aug

-1

Sep-

1

Oct

-1

Nov

-1

Dec

-1

Jan-

1

Feb-

1

Mar

-1

Apr

-1

May

-1

Jun-

1

Jul-1

Aug

-1

Sept

-1

Oct

-1

Nov

-1

Dec

-1

Turkey Saudi Arabia South Africa


The Economic Pulse


Assessing The Economy…g y

…In Their Local Area


The Economic Pulse

Detailed Tables B.6

Citizen Consumers Who Say The Economy In Their Local Areais Strong…

29%64%

48%

TotalSaudi Arabia

China

% Strong (Top 3: 5-6-7)

48%48%48%

47%46%

ChinaIndia

SwedenAustralia

Brazil45%45%

41%34%

33%

CanadaTurkey

GermanyArgentinaIndonesia 33%

23%23%

22%21%

IndonesiaSouth Africa

United StatesMexicoPoland %

19%17%

14%13%

RussiaSouth Korea

BelgiumGreat Britain

12%10%

7%6%

5%

FranceItaly

HungarySpainJapan


The Economic Pulse


5%Japan

Citizen Consumers Who Say The EconomyIn Their Local Area is Strong N/C

70%

Total - % Strong (Top 3: 5-6-7)

60%

70%

30% 30% 30% 30% 31% 30% 30% 31% 30% 30% 30% 31% 30%

40%

50%

28%30% 29% 29% 29% 30% 30% 30% 31% 30% 30% 31%

29% 30% 30% 30% 31%29% 30% 29% 29% 29%

20%

30%

0%

10%

0 0 0 0 0 0 0 0 0 0 1 1 1 1 1 1 1 1 1 1 1 1

Mar

/10

Apr

/10

May

/10

Jun/

10

Jul/1

0

Aug

/10

Sept

/10

Oct

/10

Nov

/10

Dec

/10

Jan/

11

Feb/

11

Mra

/11

Apr

/11

May

/11

Jun/

11

Jul/1

1

Aug

/11

Sept

/11

Oct

/11

Nov

/11

Dec

/11


The Economic Pulse

Rate the current state of the economy in your local area using a scale from 1 to 7, where 7 means a very strong economy today and 1 means a very weak economy.

Citizen Consumers Who Say The EconomyIn Their Local Area is Strong

Mar2010

April2010

May 2010

June 2010

July2010

Aug2010

Sept2010

Oct2010

Nov2010

Dec2010

Jan2011

Feb2011

Mar2011

Apr2011

May2011

Jun2011

Jul2011

Aug2011

Sept2011

Oct2011

Nov2011

Dec2011

% Strong (Top 3 5-6-7)

Total 28% 30% 29% 29% 29% 30% 30% 30% 31% 30% 30% 31% 29% 30% 30% 30% 31% 29% 30% 29% 29% 29%Argentina 19% 19% 15% 23% 20% 25% 26% 21% 28% 28% 30% 28% 26% 30% 28% 31% 30% 29% 36% 35% 36% 34%Australia 56% 55% 55% 50% 52% 52% 53% 57% 53% 55% 60% 54% 53% 51% 50% 46% 46% 42% 43% 49% 46% 47%Belgium 15% 11% 11% 12% 14% 20% 19% 17% 21% 16% 20% 30% 23% 27% 26% 25% 24% 19% 21% 18% 16% 14%

Brazil 38% 48% 48% 51% 41% 46% 45% 50% 47% 51% 42% 47% 41% 39% 42% 41% 43% 46% 39% 44% 49% 46%Brazil 38% 48% 48% 51% 41% 46% 45% 50% 47% 51% 42% 47% 41% 39% 42% 41% 43% 46% 39% 44% 49% 46%Canada 44% 47% 45% 46% 47% 46% 48% 43% 46% 42% 49% 49% 46% 49% 49% 51% 49% 51% 48% 48% 44% 45%

China 61% 57% 58% 55% 58% 59% 59% 63% 59% 55% 56% 57% 56% 56% 51% 49% 47% 45% 53% 48% 48% 48%France 14% 14% 12% 11% 14% 15% 13% 14% 14% 12% 14% 15% 16% 14% 16% 16% 14% 18% 12% 15% 12% 12%

Germany 27% 25% 26% 29% 30% 33% 35% 39% 43% 43% 40% 43% 38% 46% 46% 47% 47% 45% 43% 41% 43% 41%Great Britain 16% 19% 13% 12% 15% 15% 15% 13% 16% 15% 15% 14% 12% 14% 17% 17% 12% 12% 17% 13% 13% 13%Great Britain 16% 19% 13% 12% 15% 15% 15% 13% 16% 15% 15% 14% 12% 14% 17% 17% 12% 12% 17% 13% 13% 13%

Hungary 11% 13% 11% 13% 10% 14% 11% 15% 11% 9% 12% 10% 9% 12% 10% 12% 11% 9% 9% 8% 8% 7%India 61% 62% 61% 63% 53% 56% 61% 61% 67% 60% 51% 55% 52% 52% 47% 50% 42% 49% 47% 47% 48% 48%

Indonesia 37% 30% 34% 26% 30% 26% 29% 33% 31% 32% 25% 23% 30% 27% 33% 27% 29% 24% 31% 26% 34% 33%Italy 18% 19% 17% 18% 18% 19% 18% 17% 15% 18% 14% 18% 16% 16% 18% 17% 16% 14% 13% 12% 10% 10%

Japan 4% 5% 5% 5% 4% 5% 5% 5% 5% 6% 4% 5% 5% 5% 7% 6% 7% 5% 5% 7% 6% 5%Japan 4% 5% 5% 5% 4% 5% 5% 5% 5% 6% 4% 5% 5% 5% 7% 6% 7% 5% 5% 7% 6% 5%Mexico 20% 22% 24% 24% 19% 18% 18% 18% 15% 17% 22% 21% 17% 18% 18% 19% 25% 24% 21% 21% 23% 22%Poland 29% 30% 30% 28% 30% 31% 29% 21% 25% 22% 19% 21% 19% 23% 17% 21% 21% 23% 24% 24% 19% 21%Russia 23% 22% 25% 23% 24% 30% 24% 26% 24% 19% 20% 16% 17% 21% 18% 18% 19% 17% 18% 23% 18% 19%

Saudi Arabia 49% 53% 51% 48% 55% 58% 57% 47% 50% 58% 57% 55% 62% 63% 61% 63% 66% 69% 64% 58% 67% 64%South Africa 26% 35% 28% 27% 34% 28% 26% 27% 26% 30% 34% 29% 22% 23% 28% 34% 34% 27% 26% 26% 25% 23%South Africa 26% 35% 28% 27% 34% 28% 26% 27% 26% 30% 34% 29% 22% 23% 28% 34% 34% 27% 26% 26% 25% 23%South Korea 16% 20% 22% 21% 18% 22% 22% 23% 26% 28% 23% 25% 16% 19% 21% 18% 21% 16% 16% 16% 18% 17%

Spain 13% 8% 8% 10% 13% 10% 10% 10% 11% 10% 9% 9% 9% 10% 9% 8% 11% 8% 6% 8% 8% 6%Sweden 44% 46% 47% 49% 46% 53% 54% 54% 58% 55% 53% 57% 51% 54% 47% 52% 59% 57% 52% 55% 43% 48%Turkey 29% 31% 26% 32% 30% 25% 29% 34% 27% 30% 32% 33% 33% 33% 35% 38% 46% 32% 45% 42% 44% 45%

U it d St t 20% 21% 21% 21% 20% 17% 16% 19% 20% 20% 19% 24% 18% 18% 19% 18% 22% 17% 18% 16% 19% 23%


The Economic Pulse

United States 20% 21% 21% 21% 20% 17% 16% 19% 20% 20% 19% 24% 18% 18% 19% 18% 22% 17% 18% 16% 19% 23%


Countries Ranked and Marked By Change In Assessment From Last Month (Left Column):

Rate the current state of the economy in your local area using a scale from 1 to 7, where 7 means a very strong economy today and 1 means a very weak economy…

29%48%

23%

Total (N/C)Sweden (+5)

United States (+4) 23%21%

45%19%

45%

United States (+4)Poland (+2)

Canada (+1)Russia (+1)Turkey (+1) 45%

47%48%

12%13%

Turkey (+1)Australia (+1)

China (N/C)France (N/C)

Great Britain (N/C)

Green marks countries experiencing improvement;Blue marks countries with no change from last month; Red marks countries experiencing a decline

48%10%

17%7%

India (N/C)Italy (N/C)

South Korea (-1)Hungary (-1)

Red marks countries experiencing a decline…5%33%

22%34%

14%

Japan (-1)Indonesia (-1)

Mexico (-1)Argentina (-2)

B l i ( 2) 14%23%

6%41%

46%

Belgium (-2)South Africa (-2)

Spain (-2)Germany (-2)

Brazil (-3)


The Economic Pulse

46%64%

Brazil (-3)Saudi Arabia (-3)

Countries Ranked by Net Improvement, Decline or No Change Compared to Last Month:

R t th t t t f th i l l i l f 1 t 7 h 7 t

5%4%

-15% -10% -5% 0% 5% 10% 15%Sweden (+5)

United States (+4)

Rate the current state of the economy in your local area using a scale from 1 to 7, where 7 means a very strong economy today and 1 means a very weak economy…

2%1%1%1%

Poland (+2)Canada (+1)Russia (+1)Turkey (+1)

1%0%0%0%

Australia (+1)

China (N/C)France (N/C)

Great Britain (N/C)0%0%

-1%-1%


India (N/C)Italy (N/C)

-1%-1%-1%

-2%

Japan (-1)Indonesia (-1)Mexico (-1)Argentina (-2)

-2%-2%-2%-2%

Belgium (-2)South Africa (-2)Spain (-2)Germany (-2)


The Economic Pulse

-3%-3%

Brazil (-3)Saudi Arabia (-3)

All RegionsAssess the Strength of Their Local Economy

50%

55%


37%

46%

40%

44%

40%

45%

%

32%

34%

37%

31%

35%

30%

35%

25%

21%

21%20%

25%

19%21%

10%

15%

10 10 10 10 10 10 10 10 10 10 11 11 11 11 11 11 11 11 11 11 11 11

Mar

201

Apr

201

May

201

Jun

201

Jul 2

01

Aug

201

Sept

201

Oct

201

Nov

201

Dec

201

Jan

201

Feb

201

Mar

201

Apr

201

May

201

Jun

201

Jul 2

01

Aug

201

Sept

201

Oct

201

Nov

201

Dec

201


The Economic Pulse


North America LATAM Europe APAC G-8 Countries BRIC Middle East/Africa

North American CountriesAssess the Strength of Their Local Economy 2

50%

55%


44%

45%

40%

45%

50%

30%

35%

20%

23%

20%

25%

20%

10%

15%

10 10 10 10 10 10 10 10 10 10 11 11 11 11 11 11 11 11 11 11 11 11

Mar

201

Apr

201

May

201

Jun

201

Jul 2

01

Aug

201

Sept

201

Oct

201

Nov

201

Dec

201

Jan

201

Feb

201

Mar

201

Apr

201

May

201

Jun

201

Jul 2

01

Aug

201

Sept

201

Oct

201

Nov

201

Dec

201



The Economic Pulse



LATAM CountriesAssess the Strength of Their Local Economy 2

50%

55%


46%

40%

45%

50%

38%

34%30%

35%

20% 22%

20%

25%

19%

10%

15%

10 10 10 10 10 10 10 10 10 10 11 11 11 11 11 11 11 11 11 11 11 11

Mar

201

Apr

201

May

201

Jun

201

Jul 2

01

Aug

201

Sept

201

Oct

201

Nov

201

Dec

201

Jan

201

Feb

201

Mar

201

Apr

201

May

201

Jun

201

Jul 2

01

Aug

201

Sept

201

Oct

201

Nov

201

Dec

201

B il A ti M i


The Economic Pulse



European CountriesAssess the Strength of Their Local Economy N/C

70%


44%48%50%

60%

41%

29%30%

40%

27%

16%13%15%14%

18%21%

20%

30%

14%

6%

13%12%10%

7%

0%

10%

10 10 10 10 10 10 10 10 10 10 11 11 11 11 11 11 11 11 11 11 11 11

Mar

-1

Apr

-1

May

-1

Jun-

1

Jul-1

Aug

-1

Sept

-1

Oct

-1

Nov

-1

Dec

-1

Jan-

1

Feb-

1

Mar

-1

Apr

-1

May

-1

Jun-

1

Jul-1

Aug

-1

Sept

-1

Oct

-1

Nov

-1

Dec

-1



The Economic Pulse



APAC CountriesAssess the Strength of Their Local Economy N/C

%

80%


56%

61%

60%

70%

47%48%

45%37%

33%

40%

50%

23%19%

16%

29% 33%

20%

30%

4%5%

16% 17%

0%

10%

0 0 0 0 0 0 0 0 0 0 1 1 1 1 1 1 1 1 1 1 1 1

Mar

201

Apr

201

May

201

Jun

201

Jul 2

01

Aug

201

Sept

201

Oct

201

Nov

201

Dec

201

Jan

201

Feb

201

Mar

201

Apr

201

May

201

Jun

201

Jul 2

01

Aug

201

Sept

201

Oct

201

Nov

201

Dec

201

A t li Chi I di J R i S th K T k I d i


The Economic Pulse


Australia China India Japan Russia South Korea Turkey Indonesia

G8 CountriesAssess the Strength of Their Local Economy N/C

% Strong (Top 3 5-6-7)60%

44%45%

41%40%

50%

27%

23%

30%

16% 13%12%

18%

23%

19%20%23%

10%

20%

10%4%

5%

0%

10%

010

010

010

010

010

010

010

010

010

010

011

011

011

011

011

011

011

011

011

011

011

011

Mar

20

Apr

20

May

20

Jun

20

Jul 2

0

Aug

20

Sept

20

Oct

20

Nov

20

Dec

20

Jan

20

Feb

20

Mar

20

Apr

20

May

20

Jun

20

Jul 2

0

Aug

20

Sept

20

Oct

20

Nov

20

Dec

20



The Economic Pulse


y y p

BRIC CountriesAssess the Strength of Their Local Economy 1


70%

80%

61%60%

70%

38%

46%48%

40%

50%

23% 19%20%

30%

0%

10%

10 10 10 10 10 10 10 10 10 10 11 11 11 11 11 11 11 11 11 11 11 11

Mar

201

Apr

201

May

201

Jun

201

Jul 2

01

Aug

201

Sept

201

Oct

201

Nov

201

Dec

201

Jan

201

Feb

201

Mar

201

Apr

201

May

201

Jun

201

Jul 2

01

Aug

201

Sept

201

Oct

201

Nov

201

Dec

201



The Economic Pulse



Middle East/ African CountriesAssess the Strength of Their Local Economy 2

70%

80%% Strong (Top 3 5-6-7)

49%

64%

50%

60%

70%

29%

45%

40%

50%

26% 23%20%

30%

0%

10%

010

010

010

010

010

010

010

010

010

010

011

011

011

011

011

011

011

011

011

011

011

011

Mar

20

Apr

20

May

20

Jun

20

Julo

20

Aug

20

Sept

20

Oct

20

Nov

20

Dec

20

Jan

20

Feb

20

Mar

20

Apr

20

May

20

Jun

20

Jul 2

0

Aug

20

Sept

20

Oct

20

Nov

20

Dec

20



The Economic Pulse


y

Assessing the Strength of The Local Economy…

Six Months From Now…Six Months From Now


The Economic Pulse

Detailed Tables B.7

Citizen Consumers Who Say The Economy in the Local Area to be Stronger in The Next Six Months…

24%71%

60%

TotalBrazil

Saudi Arabia

% Much Stronger / Somewhat Stronger

60%50%

45%39%

37%

Saudi ArabiaIndia

ArgentinaMexico

Indonesia35%

32%23%

21%19%

TurkeyChina

United StatesSpain

Canada 19%16%16%16%

15%

CanadaAustralia

PolandSouth Africa

Russia %13%

12%12%12%

GermanyItaly

South KoreaSweden

7%7%

5%3%

2%

Great BritainJapan

BelgiumHungary

France


The Economic Pulse

Looking ahead 6 months from now, do you expect the economy in your local area to be much stronger, somewhat stronger, about the same, somewhat weaker, or much weaker than it is now?

2%France

Citizen Consumers Who Say The Economy in the Local Area to be Stronger in The Next Six Months N/C

70%

Global Total% Much Stronger / Somewhat Stronger

60%

70%

31% 30% 30% 29% 28% 28% 28% 29% 28%

40%

50%

30% 30% 29% 28% 28% 28% 29%27% 27% 28%

26% 27% 27% 26% 25% 24% 24% 24% 24% 24%

20%

30%

0%

10%

010

010

010

010

010

010

010

010

010

011

011

011

011

011

011

011

011

011

011

011

011

Apr

20

May

20

Jun

20

Jul 2

0

Aug

20

Sept

20

Oct

20

Nov

20

Dec

20

Jan

20

Feb

20

Mar

20

Apr

20

May

20

Jun

20

Jul 2

0

Aug

20

Sept

20

Oct

20

Nov

20

Dec

20


The Economic Pulse


Citizen Consumers Who Say The Economy in the Local Area to be Stronger in The Next Six Months…

Mar2010

April 2010

May2010

June 2010

July2010

Aug 2010

Sept2010

Oct2010

Nov2010

Dec2010

Jan2011

Feb2011

Mar2011

Apr2011

May2011

Jun2011

Jul2011

Aug2011

Sept2011

Oct2011

Nov2011

Dec2011

% Much Stronger/Somewhat Stronger

Total 31% 31% 30% 30% 29% 28% 28% 28% 29% 27% 27% 28% 26% 27% 27% 26% 25% 24% 24% 24% 24% 24%Argentina 32% 36% 35% 45% 36% 45% 42% 39% 44% 43% 42% 44% 44% 42% 45% 47% 47% 52% 52% 50% 47% 45%Australia 36% 34% 30% 25% 29% 26% 27% 29% 27% 24% 23% 24% 22% 23% 20% 19% 19% 16% 16% 16% 18% 16%Belgium 18% 14% 10% 14% 14% 17% 15% 13% 12% 12% 13% 13% 14% 15% 11% 14% 10% 6% 8% 8% 4% 5%Brazil 79% 71% 72% 72% 69% 68% 75% 78% 76% 78% 73% 73% 67% 72% 71% 64% 71% 71% 65% 74% 72% 71%Canada 38% 35% 29% 30% 32% 25% 27% 26% 27% 27% 31% 29% 28% 28% 26% 25% 24% 18% 15% 19% 19% 19%China 57% 49% 51% 49% 50% 50% 50% 50% 48% 44% 49% 49% 40% 42% 44% 39% 36% 35% 44% 39% 42% 32%France 5% 7% 3% 4% 5% 5% 5% 3% 4% 4% 5% 4% 4% 4% 4% 5% 3% 4% 2% 2% 2% 2%Germany 23% 25% 22% 21% 26% 29% 26% 31% 35% 27% 30% 28% 26% 24% 26% 22% 22% 18% 16% 12% 15% 13%Great Britain 18% 21% 22% 16% 16% 15% 13% 12% 13% 12% 13% 11% 8% 10% 12% 14% 9% 9% 10% 8% 9% 7%Hungary 22% 24% 23% 23% 15% 18% 18% 23% 13% 10% 12% 15% 10% 11% 7% 8% 10% 8% 6% 5% 6% 3%India 66% 66% 64% 67% 59% 58% 64% 65% 65% 61% 55% 61% 55% 55% 50% 52% 43% 52% 54% 56% 50% 50%Indonesia 31% 33% 36% 36% 38% 35% 35% 35% 34% 30% 26% 26% 29% 28% 32% 29% 29% 28% 29% 28% 32% 37%Italy 20% 21% 17% 19% 17% 18% 16% 17% 16% 15% 18% 16% 17% 15% 15% 15% 13% 14% 10% 11% 21% 12%Japan 11% 12% 12% 13% 9% 8% 6% 6% 8% 8% 8% 9% 8% 9% 10% 9% 10% 7% 7% 10% 6% 7%pMexico 34% 37% 44% 36% 33% 32% 35% 38% 30% 36% 33% 37% 43% 38% 41% 37% 39% 36% 34% 36% 39% 39%Poland 23% 23% 20% 23% 22% 24% 19% 19% 19% 21% 12% 19% 14% 17% 13% 15% 16% 18% 19% 15% 13% 16%Russia 17% 19% 17% 18% 23% 18% 21% 13% 24% 16% 16% 18% 18% 18% 16% 16% 13% 16% 15% 20% 17% 15%Saudi Arabia 44% 49% 50% 41% 46% 53% 46% 48% 45% 47% 45% 52% 56% 60% 59% 60% 62% 64% 57% 53% 54% 60%South Africa 38% 35% 34% 33% 36% 24% 25% 21% 27% 27% 28% 22% 16% 16% 21% 23% 17% 10% 15% 16% 20% 16%South Africa 38% 35% 34% 33% 36% 24% 25% 21% 27% 27% 28% 22% 16% 16% 21% 23% 17% 10% 15% 16% 20% 16%South Korea 21% 23% 24% 21% 21% 20% 22% 20% 22% 25% 22% 25% 19% 14% 17% 12% 15% 13% 15% 14% 14% 12%Spain 28% 27% 26% 21% 25% 24% 22% 20% 21% 20% 20% 21% 21% 23% 22% 20% 18% 18% 15% 23% 17% 21%Sweden 19% 20% 15% 21% 20% 17% 19% 21% 19% 20% 16% 21% 17% 18% 17% 16% 15% 14% 14% 11% 16% 12%Turkey 32% 35% 30% 30% 32% 33% 29% 28% 27% 23% 30% 32% 28% 32% 34% 36% 38% 25% 40% 35% 28% 35%United States 31% 36% 32% 27% 23% 22% 22% 24% 29% 25% 27% 27% 21% 24% 25% 22% 22% 17% 17% 16% 20% 23%


The Economic Pulse

United States 31% 36% 32% 27% 23% 22% 22% 24% 29% 25% 27% 27% 21% 24% 25% 22% 22% 17% 17% 16% 20% 23%


Countries Ranked and Marked By Change In Assessment From Last Month (Left Column):

L ki h d i th f d t th i l l t b h t h tLooking ahead six months from now, do you expect the economy in your local area to be much stronger, somewhatstronger, about the same, somewhat weaker, or much weaker than it is now?

24%35%

Total (N/C)Turkey (+7) 35%

60%37%

21%16%

Turkey ( 7)Saudi Arabia (+6)

Indonesia (+5)Spain (+4)

Poland (+3)23%

7%5%

19%2%

United States (+3)Japan (+1)

Belgium (+1)Canada (N/C)F (N/C) 2%

50%39%

71%45%

France (N/C)India (N/C)

Mexico (N/C)Brazil (-1)

Argentina (-2)

Green marks countries experiencing improvement;Blue marks countries with no change from last month; Red marks countries experiencing a decline…

45%16%

13%7%

15%

Argentina ( 2)Australia (-2)Germany (-2)

Great Britain (-2)Russia (-2)

12%3%

16%12%


South Africa (-4)Sweden (-4)

( 9)


The Economic Pulse

12%32%

Italy (-9)China (-10)

Countries Ranked by Net Improvement, Decline or No Change Compared to Last Month:

L ki h d i th f d t th i l l t b h t h t

7%6%

-20% -15% -10% -5% 0% 5% 10% 15% 20%

Turkey (+7)Saudi Arabia (+6)

Looking ahead six months from now, do you expect the economy in your local area to be much stronger, somewhatstronger, about the same, somewhat weaker, or much weaker than it is now?

5%4%

3%3%

( )Indonesia (+5)

Spain (+4)Poland (+3)

United States (+3)

1%1%

0%0%

Canada (N/C)France (N/C)

Japan (+1)Belgium (+1)

0%0%

-1%-2%

India (N/C)Mexico (N/C)

Brazil (-1)Argentina (-2)

-2%-2%-2%-2%

Australia (-2)Germany (-2)Great Britain (-2)Russia (-2)

-2%-3%

-4%-4%

South Korea (-2)Hungary (-3)South Africa (-4)Sweden (-4)


The Economic Pulse

-9%-10%

Italy (-9)China (-10)

All Regions - Citizen Consumers Who Say The Economy in the Local Area to be Stronger in The Next Six Months

51%

55%60%


48%51%

42%38%

40%

50%

34%

24%

37%

30%

21%19%

20%

12%10%

20%

10%

0%

10%

10 10 10 10 10 10 10 10 10 10 11 11 11 11 11 11 11 11 11 11 11 11

Mar

201

Apr

201

May

201

Jun

201

Jul 2

01

Aug

201

Sept

201

Oct

201

Nov

201

Dec

201

Jan

201

Feb

201

Mar

201

Apr

201

May

201

Jun

201

Jul 2

01

Aug

201

Sept

201

Oct

201

Nov

201

Dec

201



The Economic Pulse



North American Countries - Citizen Consumers Who Say The Economy in the Local Area to be Stronger in The Next Six Months 2

50%


38%40%

45%

31%30%

35%

23%

20%

25%

19%

10%

15%

0 0 0 0 0 0 0 0 0 0 1 1 1 1 1 1 1 1 1 1 1 1

Mar

201

0

Apr

201

0

May

201

0

Jun

2010

Jul 2

010

Aug

201

0

Sept

201

0

Oct

201

0

Nov

201

0

Dec

201

0

Jan

2011

Feb

2011

Mar

201

1

Apr

201

1

May

201

1

Jun

2011

Jul 2

011

Aug

201

1

Sept

201

1

Oct

201

1

Nov

201

1

Dec

201

1


The Economic Pulse



LATAM Countries - Citizen Consumers Who Say The Economy in the Local Area to be Stronger in The Next Six Months 2

79%80%

90%


71%

60%

70%

80%

45%

34%40%

50%

32%

3 %39%

20%

30%

0%

10%

10 10 10 10 10 10 10 10 10 10 11 11 11 11 11 11 11 11 11 11 11 11

Mar

201

Apr

201

May

201

Jun

201

Jul 2

01

Aug

201

Sept

201

Oct

201

Nov

201

Dec

201

Jan

201

Feb

201

Mar

201

Apr

201

May

201

Jun

201

Jul 2

01

Aug

201

Sept

201

Oct

201

Nov

201

Dec

201



The Economic Pulse



European Countries - Citizen Consumers Who Say The Economy in the Local Area to be Stronger in The Next Six Months 1


35%

40%

28%

25%

30%

35%

23%21%

19%18%

20%22%

16%

20%

25%

13%

5%

18%

7%

12%

16%

10%

15%

5%

2%

7%5%3%

0%

5%

010

010

010

010

010

010

010

010

010

010

011

011

011

011

011

011

011

011

011

011

011

011

Mar

20

Apr

20

May

20

Jun

20

Jul 2

0

Aug

20

Sept

20

Oct

20

Nov

20

Dec

20

Jan

20

Feb

20

Mar

20

Apr

20

May

20

Jun

20

Jul 2

0

Aug

20

Sept

20

Oct

20

Nov

20

Dec

20



The Economic Pulse



APAC Countries - Citizen Consumers Who Say The Economy in the Local Area to be Stronger in The Next Six Months 2

66%70%

80%


57%

66%

50%

60%

70%

36%

32% 35%

37%40%

50%

16%

32%

17% 15%

21%

32% 35%

31%

20%

30%

11%7%

17% 15%12%

0%

10%

10 10 10 10 10 10 10 10 10 10 11 11 11 11 11 11 11 11 11 11 11 11

Mar

201

Apr

201

May

201

Jun

201

Jul 2

01

Aug

201

Sept

201

Oct

201

Nov

201

Dec

201

Jan

201

Feb

201

Mar

201

Apr

201

May

201

Jun

201

Jul 2

01

Aug

201

Sept

201

Oct

201

Nov

201

Dec

201



The Economic Pulse



G8 Countries - Citizen Consumers Who Say The Economy in the Local Area to be Stronger in The Next Six Months 2

45%

50%% Much Stronger/Somewhat Stronger

38%

35%

40%

23%

20%

31%

23%

20%

25%

30%

18% 19%

13%12%

11%

17% 15%

10%

15%

20%

5% 2%

11%7%

0%

5%

010

010

010

010

010

010

010

010

010

010

011

011

011

011

011

011

011

011

011

011

011

011

Mar

20

Apr

20

May

20

Jun

20

Jul 2

0

Aug

20

Sept

20

Oct

20

Nov

20

Dec

20

Jan

20

Feb

20

Mar

20

Apr

20

May

20

Jun

20

Jul 2

0

Aug

20

Sept

20

Oct

20

Nov

20

Dec

20



The Economic Pulse


y y p

BRIC Countries - Citizen Consumers Who Say The Economy in the Local Area to be Stronger in The Next Six Months 3

79%80%

90%


71%

66%

60%

70%

50%57%

40%

50%

17%32%

20%

30%

15%

0%

10%

010

010

010

010

010

010

010

010

010

010

011

011

011

011

011

011

011

011

011

011

011

011

Mar

20

Apr

20

May

20

Jun

20

Jul 2

0

Aug

20

Sept

20

Oct

20

Nov

20

Dec

20

Jan

20

Feb

20

Mar

20

Apr

20

May

20

Jun

20

Jul 2

0

Aug

20

Sept

20

Oct

20

Nov

20

Dec

20

B il R i I di Chi


The Economic Pulse



Middle East/African Countries - Citizen Consumers Who Say The Economy in the Local Area to be Stronger in The Next Six Months 3

70%


44%

60%

50%

60%

35%38%

30%

40%

32%

20%

30%

16%

0%

10%

0 0 0 0 0 0 0 0 0 0 1 1 1 1 1 1 1 1 1 1 1 1

Mar

201

Apr

201

May

201

Jun

201

Jul 2

01

Aug

201

Sept

201

Oct

201

Nov

201

Dec

201

Jan

201

Feb

201

Mar

201

Apr

201

May

201

Jun

201

Jul 2

01

Aug

201

Sept

201

Oct

201

Nov

201

Dec

201



The Economic Pulse



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The Economic Pulse

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The Economic Pulse

Ipsos Global @dvisor 28: The economic pulse of the world: January 2012

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