The spring 2009 KPMG Business Outlook Survey, which surveys around 1,400 service sector firms across the BRIC region (Brazil, Russia, India and China), has signaled a rise in business sentiment among BRIC service providers.

The net balance of firms forecasting growth of activity over the next twelve months has risen from +33.8 to +43.5. Optimism is highest in Brazil, while confidence has also rebounded strongly in Russia and India. However, sentiment in China has eased a little compared with the previous survey.

With activity and new business levels expected to increase during the next twelve months, BRIC service providers are set to step up their recruitment accordingly. The net balance for employment has improved from +17.1 to +22.5. Confidence regarding staffing levels is up in all four countries, with Brazilian firms particularly confident of an increase.

Ian Gomes, Chairman of KPMG's High Growth Markets Practice, commented, “The findings perhaps suggest that the BRIC nations can achieve reasonable growth rates this year, even as developed economies are set to contract. Clearly the extent to which the big emerging markets can take up the slack from the US, Europe and Japan will be a key determinant of global economic prospects.”

An extended summary of the report and information on the methodology can be found here