Sorrell: Davos 'bubble' failed to predict Trump victory

The WPP chief predicts Trump will be good for the U.S. economy.

Sorrell: optimistic about Trump's economic policies
Sorrell: optimistic about Trump's economic policies

DAVOS, SWITZERLAND: The world's business elite failed to predict Donald Trump's U.S. election victory because they are in a Davos "bubble," WPP CEO Martin Sorell said Tuesday morning.

Speaking to CNBC from Davos at the World Economic Forum, Sorrell wryly admitted he was "out of touch."

Sorrell himself had predicted the U.K. would vote to remain in the European Union last year, and that Trump’s rival Hillary Clinton would win the U.S. presidential election. 

"We all talk to one another in this bubble here in Davos, and echo chamber, in London, and it’s quite true of the East Coast, West Coast liberals, and forget about flyover countries," he said. "So I’m clearly out of touch." 

When asked whether he felt Trump would be catastrophic for business, Sorrell claimed he had thought the reverse and that the billionaire Republican would be "good for the U.S. economy."

"I think what he’s doing in the’s sort of impenetrable at the moment, in terms of trying to figure what will happen internationally, but what you gain on the U.S. roundabouts, you lose on the international swings," he added.

U.K. Prime Minister Theresa May is scheduled to give a special address at Davos on Thursday.

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