Majority of business leaders optimistic of economic growth: LinkedIn

Survey found that India was among the few nations that showed a significant increase in confidence towards their respective domestic economies

Buoyed by formation of a business friendly government, a vast majority of the country's business leaders are optimistic about the growth of the domestic economy, says a survey by professional networking site LinkedIn.

The survey conducted every quarter among 13,000 business leaders across 15 countries found that India was among the few nations that showed a significant increase in confidence towards their respective domestic economies.

In the April-June period, 90 percent business leaders surveyed by LinkedIn were expecting improvement in the nation's economy compared to 53 % in the January-March quarter this year.

"The Bharatiya Janata Party's (BJP) pro-business and pro- job creation agenda and its extremely strong showing in India's 2014 general election in May is a likely spark for that impressive increase in economic confidence," LinkedIn said.

Besides India, countries which also showed rise in optimism in their domestic economy were United Kingdom (73 %), Spain (58 %), Japan (46 %) and Italy (41 %). France and Brazil witnessed the maximum decline at 7 % each on the parameter.

Moreover, around 71 % of the business leaders in the country surveyed during April-June quarter this year have also expressed confidence in the global economy compared to 51 % in the first quarter (January-March) of 2014.

"While India had the most dramatic increase in confidence in the global economy, France, Canada and Brazil decreased the most, at 10 %, 5 % and 5 %, respectively," it added.

Increase in confidence for global economy were also seen at Netherlands (71 %), United Kingdom (68 %) and Spain (63 %) in the second quarter.

In terms of job expectations, 64 % of the business leaders surveyed in second quarter were expecting a increase in hiring compared to 60 % in previous quarter.

"Business leaders in twelve out of the fifteen countries show an increase in optimism about adding staff," the professional networking site said.