Businesses remain confident in the wake of the general election, survey reveals
18th February 2015 11:37 - Business Support
According to The BDO Monthly Business Trends survey, confidence levels of business over the upcoming 6 months has shown a reading of 104.4, signalling significant levels of optimism in the months leading up to the general election.
The survey also found that output expectations gave a reading of 102.9, highlighting a positive outlook amongst firms. Employment levels also scored highly, with a reading of 111.6. Both of these figures were well above the long term trend rate of 100.
The findings revealed that businesses in the UK are in a good position following the start of the economic recovery.
The country’s economics have been recovering as a result of the falling price of oil and low inflation rates – both of which have contributed to a growth in wages.
The report claims that businesses remain positive, despite debates within parliament about UK business confidence.
Manufacturing in the UK has been coping well with low output prices and was described as the sector with “a balmy outlook” to the UK’s economy.
Partner of BDP, Peter Hemington claimed that companies were ready to focus on their own business prospects and not on the general election in the upcoming months.
Hemington added: “By discounting the political noise and taking a realistic view of the economy’s strengths, businesses are remaining cautiously optimistic.”
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