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The latest Thomson Reuters/INSEAD survey revealed that the business morale among the Asian firms rebounded from the lowest level in eleven years in the third quarter of 2020, although the coronavirus pandemic continues to cast a shadow.

Antonio Fatas, Singapore-based economics professor at global business school INSEAD, said: “We’re recovering with a large dose of uncertainty. If it was just because of Asia, I think the numbers would be more positive but the reality is the world is not just Asia.”

Key findings

“Asian firms’ outlook for the next six months tracked by the Thomson Reuters/INSEAD Asian Business Sentiment Index jumped to 53 in the third quarter from an 11-year low of 35 in the second.”

“More than two-thirds of the companies polled said they saw the pandemic, or a fresh spike in COVID-19 cases, as a top risk.”

“About 14% said a global recession was their biggest concern, while the rest flagged uncertainty over the upcoming US election in November and other risks.”