CEOs head to Davos more pessimistic about 2013

The snow has fallen and the hotels are ready, but the CEOs gathering in Davos for the World Economic Forum are facing strong worries about public mistrust, disappearing jobs and a shaky global recovery.

New survey results Tuesday show a steady drop in the number of CEOs worldwide who are "very confident" their companies will grow this year. The number fell to 36 percent from 40 percent last year and from 48 percent in 2011.

The survey by accounting firm PricewaterhouseCoopers shows that with the pessimism, most companies are limiting investments and focusing on tried-and-true markets.

PwC chairman Dennis Nally told The Associated Press that confidence was down almost everywhere, even in high-flying economies like China and Brazil.


People gather at the 'Davos lounge' inside the Congress Center and follow the latest tweets of participants on the eve of the opening of the 43rd Annual Meeting of the World Economic Forum, WEF, in Davos, Switzerland, Tuesday, Jan. 22, 2013. As corporate leaders gather for the World Economic Forum in Davos amid a slow and shaky recovery, a new study looks at business leaders' moods and what they hope to do this year. (AP Photo/Anja Niedringhaus)