Business confidence turns positive
24/08/2009
Today the Institute of Chartered Accountants in England and Wales (ICAEW) has announced that business confidence has turned positive for the first time in two years.
ICAEW said the Business Confidence Monitor (BCM) showed a record rise in confidence from -28.2 to +4.8, the largest quarterly improvement since the monitor began in 2003, and predicts that gross domestic product will rise 0.5 percent this quarter.
ICAW Chief Executive Michael Izza said:
"This quarter's BCM suggests that the UK recession is at an end. While there is no doubt that the UK economy is on its way to recovery, we shouldn't underestimate the challenges ahead for businesses."
"Although positive growth in the autumn seems more likely, there are concerns about the strength of the recovery."
Certainly business confidence is vital to the UK’s recovery, jJust by keeping positive business leaders can build moral both internally and external to the wider community.
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