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Outlook 2007. Dr. Klaus W. Wellershoff Member of the UBS Group Managing Board. 18 March 2007. OCTOBER 2ND—8TH 2004. Stock Market: Earnings vs. Price (normalised). 325. 275. 225. 175. 125. 75. 95. 96. 97. 98. 99. 00. 01. 02. 03. 04. 05. 06. MSCI World Price Index.
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Outlook 2007 Dr. Klaus W. Wellershoff Member of the UBS Group Managing Board 18 March 2007
Stock Market: Earnings vs. Price (normalised) 325 275 225 175 125 75 95 96 97 98 99 00 01 02 03 04 05 06 MSCI World Price Index MSCI World Earnings (normalised) Quelle: MSCI, UBS WMR
World: Contribution to global growth United States 24% Western Europe 20% Estimated growth contribution by region in %, 2006 Others Africa 4% Middle East 3% 4% Latin America 6% Central and Eastern Europe 8% Asia (ex Japanand China) 12% Japan 5% China 14% Source: IMF, UBS WMR
World: Consumer sentiment 3 standardized indices 2 1 0 -1 -2 -3 90 92 94 96 98 00 02 04 06 USA Europe Japan Source: Thomson Financial, UBS WMR
World: Business Climate 3 standardized indices 2 1 0 -1 -2 -3 90 92 94 96 98 00 02 04 06 USA Germany Japan Source: Thomson Financial, UBS WMR
2003 2004 2005 2006E 2007F 2008F US 2.5 3.9 3.2 3.3 2.0 2.4 Canada 1.8 3.3 2.9 2.9 2.5 2.7 Japan 1.4 2.7 1.9 2.1 1.8 1.8 Eurozone 0.7 1.7 1.5 2.7 2.3 2.0 UK 2.7 3.3 1.9 2.7 2.5 2.8 Switzerland -0.2 2.3 1.9 2.8 1.8 2.0 Asia (ex Japan) 7.2 7.9 7.5 8.1 6.9 7.5 China 10.0 10.1 9.9 10.7 9.1 10.1 Latin America 1.1 6.0 3.8 4.7 4.1 3.7 Eastern Europe 5.6 6.8 5.2 5.8 5.9 4.6 Growth Forecasts Real GDP Growth, in % Quelle: Thomson Financial, UBS WM Research
Contact Information UBS AG Dr. Klaus W. Wellershoff Member of the UBS Group Managing Board P.O. Box CH-8098 Zurich Tel: +41-44 234 6703 Fax: +41-44 235 2755 www.ubs.com