Business fears of triple-dip recession on the wane
British businesses are growing increasingly bullish that the country will avoid a triple-dip recession.
Fears that the economy could once again suffer contraction have fallen to an eight-month low, according to a survey of 300 £1m-plus turnover companies undertaken earlier this month. The Lloyds Bank Commercial Banking Business Barometer shows that companies in the North and South are far more bullish than those in the Midlands.
However, experts warned that hopes of a relatively buoyant 2013 could be undermined by international economic crises that remain unresolved. Trevor Williams, chief economist, Lloyds Bank Commercial Banking, said: "The upward momentum in confidence in the past two months, if sustained, would point to a return to growth in the early stages of 2013, though external risks remain the euro area and the US fiscal cliff. Nevertheless, as we end the year, it is good to see businesses in a more upbeat mood about the economy and their own trading prospects."
Service sectors were particularly upbeat. But the industrial businesses still showed concern, likely to be caused by exports being hit by the continuing Eurozone malaise and US politicians failing to budge sufficiently to come to an economic compromise.
This might also be a reason why the biggest firms surveyed showed a decline in confidence. They are more likely to have international elements to their businesses, so will be more hurt by global economic problems.
- 1 Cyclist who knocked down three-year-old girl says his life has been 'destroyed'
- 2 A politically correct lefty goes to see Top Gear live – you'll probably believe what happened next
- 3 Young Preston fan has play-off hero Jermaine Beckford's shirt stolen from him at Wembley - which then appears for sale on Gumtree
- 4 Isis burns woman alive for refusing to engage in 'extreme' sex act, UN says
- 5 Puerto Rico, island of lost dreams: People are leaving the debt-hit territory in droves as near neighbour Cuba's star rises
As a white man, I'm surprised more women aren't tweeting the hashtag #KillAllWhiteMen
Scotland may have to leave the EU even if it votes to stay in, David Cameron confirms
The day that Britain resigned as a global power
SNP fury as HS2 finds 'no business case' for taking fast train service to Scotland
A nation of inequality: How the UK is failing to feed its most vulnerable people
EU referendum: David Cameron to deny EU migrants and under-18s the chance to vote
iJobs Money & Business
£40-50K: Guru Careers: We are seeking an experienced Software / C# Developer w...
£45,000 - £55,000: Neil Pavier: Are you looking for your next opportunity for ...
£45,000 - £55,000: Sheridan Maine: Are you a newly qualified ACA/ACCA/ACMA qua...
£50,000 - £60,000: Laura Norton: Are you looking for an opportunity within a w...