- Packaging, foodservice and construction business sentiment improved
- Malaysia, Switzerland, Norway, Japan, Singapore showed improvement
- AI and cybersecurity witness high growth in mentions
Global business sentiment during the first quarter (Q1) of 2024 witnessed a 2% decline, as per a thorough analysis of annual and quarterly reports, alongside earnings call transcripts. Market and supply chain risks exacerbated macro-economic pressures, while extended conflicts like the Russian-Ukraine war and the Red Sea crisis heightened geopolitical uncertainties, impacting global supply chains. Simultaneously, discussions on geopolitical risks, artificial intelligence (AI), and cybersecurity emerged as the trending topics, reveals the Company Filings Analytics Database of GlobalData, a leading data and analytics company.
GlobalData’s latest report, “Company Filings Analytics Trends & Signals – Q1 2024,” reveals that industries such as packaging, foodservice, and construction saw sentiment improvements. Pharma sector also experienced a positive sentiment growth with discussions around trials, approvals, and commercialization efforts. Meanwhile, industries like technology, consumer, insurance, and agricultural and forestry witnessed a decline.
Misa Singh, Business Fundamentals Analyst at GlobalData, comments: “Global disruptions from geopolitical conflicts like the Red Sea crisis, Panama Canal drought, and South China Sea tensions affected supply chains. Europe and the Middle East faced heightened supply chain risks, notably in Israel with sentiment declining significantly due to the Israel-Hamas conflict. Companies are actively monitoring and managing the operations to minimize any impact arising from these developments.”
Gentherm Inc mentioned disruptions in the supply chain impacted by conflicts in the Middle East and due to heightened tensions in the Red Sea and South China resulting in shifting of manufacturing production around the world as a part of a manufacturing rationalization strategy.
Singh concludes: “In terms of themes, cybersecurity was a key focus area with enhanced mentions and sentiment, as companies prioritized risk management strategies and integration of AI tools for operational efficiencies, alongside discussions on generative AI, language models, intellectual property, and regulatory compliance.”
