A new survey from the Institute of Directors (IoD) has suggested British companies believe another recession can be avoided, despite the gloom of rece…
A new survey from the Institute of Directors (IoD) has suggested British companies believe another recession can be avoided, despite the gloom of recent economic predictions.
The study found that only 35 per cent of business leaders believe there is a high or very high risk of a recession this year, while 11 per cent think the risk is low or very low.
It also revealed that 40 per cent of companies expect profits to go up in 2012, compared with 32 per cent who are anticipating a decline.
Although people's finances are likely to improve if recession is avoided, debt help may still be required by those who are among the 2.67 million unemployed people in the UK.
"The resounding message from the survey is the critical role of confidence at this stage in the economic cycle," said Graeme Leach, chief economist at the IoD.
According to figures from the Office for National Statistics, the number of people out of work increased by 48,000 in the three months to December 2011.
By James Francis