Edelman PR's annual "global trust survey" shows trust in business increasing modestly, but only because of a spike "in a handful of Western countries, especially the United States where it jumped 18 points to 54 percent."
Edelman feels the overall improvement in its Trust Barometer "is tenuous, with nearly 70 percent saying business and financial companies will revert to 'business as usual' after the recession."
Trust in banks declined dramatically in most Western countries, plummeting 39 points (68 to 29 percent) in the U.S. and 20 points (41 to 21 percent) in the U.K. from 2007-2009."
"Trust in business has improved, but the patient has a long road to go for a full recovery," said Richard Edelman, president and CEO, Edelman. "The increase in trust in business belies its fragility. There is concern that short-term actions have been taken only as a result of the crisis and that government will need to remain a watchdog."
"Companies will have to prove the skeptics wrong and show they can achieve both profit and purpose."
CEO credibility improved by nine points in the U.S. (to 26 percent) and in the U.K. (to 33 percent), the Edelman survey found, but CEO credibility still remains low.
This is the 10th edition of Edelman's Trust Barometer, which the firms says is based on 25-minute telephone interviews conducted on its behalf by research firm StrategyOne between last Sept. 29-Dec. 6 of 4,875 "informed publics" in the 25-34 and 35-64 age groups in 22 countries.