Global Trust In Business Plummeted In 2008: Edelman Survey

02/27/2009 05:12 am ET | Updated May 25, 2011

BOSTON (Reuters) - Trust in business plummeted worldwide last year, as the global economic crisis sent financial institutions pleading for government support, leaving average people to question industry's ability to bring prosperity, according to a survey released on Tuesday.

Some 62 percent of informed adults aged 25 to 64 told the Edelman Trust Barometer that they trusted businesses less than they had a year ago, with respondents in the United States and Western Europe more suspicious than those in emerging economies.

The biggest drops came in Ireland, where 83 percent of respondents said they had lost trust in business; in Japan, where 79 percent grew more wary; and in the United States, where 77 percent became more suspicious.

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