26
May
Survey sees rise in UK confidence
Confidence among business professionals has risen for the first
time since the end of 2007, a survey indicates. The Institute of
Chartered Accountants' index of business confidence rose to -28.2
at the end of March, from -45.3 at the end of the previous quarter.
"The underlying data suggests that companies have heeded warnings,"
said the Institute's's head Michael Izza. More than 1,000 chartered
accountants were surveyed across England and Wales. Mr Izza said
businesses were "managing the consequences of the global recession
remarkably well". But he added: "While the change in outlook is
encouraging, I still believe that difficult times lie ahead." "I
would urge businesses to not be complacent and be measured in any
steps they take in response to an economic recovery." Last week,
the Office of National Statistics said the output of the UK economy
fell by an unrevised 1.9% in the first three months of 2009 and
household spending dropped 1.2%, the biggest decline since 1980.
The only sector of the economy making a positive contribution to
growth was government spending.
BBC News. (2009). Survey sees rise in UK confidence. [Online].
Available from: http://news.bbc.co.uk/1/hi/business/8066076.stm
Accessed 26th May 2009.