Global risk survey: Tail risk fears vanish

Businesses have become more positive about growth prospects and much less concerned about the possibility of severe downside shocks, based on Oxford Economics’ March flash survey of global risk perceptions. Only one in 100 respondents sees risks as heavily skewed to the downside — the lowest in the survey’s history — according to Oxford Economics.

Despite the improved sentiment, businesses remain cautious about the economic recovery’s likely pace. Fewer than half of the respondents expect their business to have returned to pre-pandemic activity levels by end-2021.

Its survey suggests a majority of business have become more positive about the global economy during the past month. This repeats the pattern seen in risk surveys Oxford Economics has conducted since December 2020. In the latest one, around half of respondents (49 percent) reported they have become slightly more positive over the past month about global growth prospects for the next two years. A fur