The global financial crisis is spilling over into nonfinancial markets, as many industry sectors suffer from the lack of credit, shaken consumer confidence, the need to cut costs and a global decline in trade. How will industries navigate through the economic turmoil?
Automotive
The automotive industry has been facing the same set of problems for some time now. But add the pressure of increasing raw materials costs, rising fuels prices and tighter regulations and the result is a perfect storm. Can the automotive industry weather the downpour?
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Industrial manufacturing
Despite the economic downturn, many industrial manufacturing CEOs are looking for suitable deal-making opportunities. Where are they finding them?
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Banking and capital markets
When it comes to ascribing blame for the current economic crisis, most fingers seem to be pointed squarely at the banking and capital markets sector—which may not be entirely fair. Fair or not, the industry is retrenching: in 2009 CEOs are less likely to expand their business lines, and are focusing instead on better penetration of existing markets.
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Insurance
Insurance CEOs are more confident about their businesses—and about the prospects for their industry—than their counterparts across all sectors. This may reflect the fact that their products are not discretionary. But is the sector really invulnerable?
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Business and professional services
Protected from the economic downturn, CEOs of business services companies were surprisingly confident this year. What has sheltered them from the effects of the financial crisis? The answer may surprise you.
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Metals
Metals CEOs have seen the domino effect of the crisis first hand. Their customers—the automotive and construction industry—just can't afford to buy steel product. In fact, demand has already plummeted and metals CEOs are gloomier than CEOs in any other industry. What can they do about it?
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Chemicals
Chemicals CEOs are especially worried about the impact of the recent problems in the global banking system. And no wonder: although their financing costs are shooting up, and the credit crunch will forcibly delay some of their investments, there isn't a thing they can do about it. Or is there?
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Pharmaceutical
Odd as it may seem, economic forces have had less impact on the pharmaceutical industry than on other manufacturing sectors and this year, CEOs are more confident about short-term growth than their peers. In fact, the credit crunch may actually provide business opportunities for some of them.
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Consumer goods
Today's drop in consumer confidence has directly affected the consumer goods industry. Consumer goods CEOs have more faith in their own companies than in the industry as a whole. Even though prospects are gloomy, CEOs are hopeful that they can generate higher revenues themselves. How?
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Retail
When consumers lose confidence in the economy, what's the first thing they do? They stop spending which spells trouble for retail CEOs. In fact, retailers expect consumers to tighten their belts in the future. If retail CEOs are dubious about achieving business growth, what are they doing about it?
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Engineering and construction
The residential market has taken a beating during the financial crisis. Engineering and construction CEOs lucky and smart enough to survive the downturn will need to focus on addressing not only short-term risks, but also global long-term risks such as climate change and a shallow talent pool.
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Technology, communications, entertainment and media
Technology, communications, entertainment and media CEOs are scaling back their expectations for a quick recovery. At the same time, they are quickly refocusing on innovation and collaboration. Those who survive will emerge stronger with greater market share.
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Financial services
There is precious little opportunity right now for financial services CEOs to focus on anything but continued existence. The emphasis will be less on short-term returns and trading activities, and more on building relationships, adding value, and survival.
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Transportation and logistics
Container shipping has taken a nosedive. The trucking sector is feeling the pinch. And the airline industry is in worse shape than ever and we may see some major carriers fail spectacularly in the coming year. In 2009 this sector is in for a bumpy ride. Will it survive?
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