A positive pivot? Global executives seem the most bullish about their businesses since the early pandemic days of March

November 5, 2020As of mid-October, the share of executives who expected their companies’ profits to increase was double what it was six months before, according to surveys we’ve conducted monthly since March. A similar share predicts that customer demand too will increase.

The percentage of executives surveyed who expected an increase in profits and customer demands rose in October to nearly double what it was in April, when the percentage had gone down following the pandemic outbreak.

Executives report ever-more-positive expectations for their companies' profitability and customer demand.

Expected changes at respondents' companies in next 6 months, % of respondents¹

Chart summary

Among executives surveyed in April 2020, most expected a decrease in profits and customer demands after the pandemic outbreak. The percentage of executives who expected an increase rose by 20% or more over the next few months.

Chart data

Profits

Expected changes in profits by the share of executives surveyed in the months after the pandemic onset.
Month in 2020	Increase	No change	Decrease
March	42	22	33
April	27	9	61
May	33	10	54
June	37	11	49
July	45	14	37
September	53	13	31
October	55	16	27

Customer demand

Expected changes in customer demand by the share of executives surveyed in the months after the pandemic onset.
Month in 2020	Increase	No change	Decrease
March	39	32	28
April	36	15	48
May	43	16	41
June	42	22	36
July	48	25	26
September	53	24	23
October	56	26	17

Notes

¹Respondents who answered "don't know" are not shown. Questions were aksed only of respondents working for private-sector organizations. In Mar 2020, n = 1,060; in Apr 2020, n = 1,940; in May 2020, n = 2,290; in June 2020, n = 1,985; in July 2020, n = 1,900; in Sept 2020, n = 1,010; and in Oct 2020, n = 2,041.

McKinsey & Company

To read the survey, see “The coronavirus effect on global economic sentiment,” October 29, 2020.