Survey Shows Increase in Economy Optimism but Expectation of Difficulty

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2nd May 2012 16:37 - Financial Services

A twice-yearly survey by the Chartered Managers Institute (CMI) has discovered that while UK managers are cautiously more optimistic about economic recovery, they still have strong concerns about the impact that the recession is having on businesses, particularly among the public sector.

In total, 83% of the 701 managers who took part in the poll expect UK gross domestic product to remain the same or contract over the next 12 months. While this negative view is less than the 92% who thought this in the previous survey, it clearly indicates that most managers expect UK economic recovery to be difficult and slow.

Christopher Kinsella, acting Chief Executive of the CMI, commented: "Although it is good to see improvement in the longer term outlook amongst UK managers, particularly in the private sector, as last week's GDP figures show, we are still experiencing tough times"

He added: "With morale continuing to be low and managers having to deal with difficult issues such as pay freezes and job insecurity, the journey back to economic prosperity is likely to feel like a long slog for many people."

The market research also revealed that a majority of 82% of managers would like to see the Government providing a helping hand by offering tax breaks to employer that are investing in skill development.

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