The past 18 months has resulted in Manchester and North West companies reaching their highest level of confidence, even though falling sales are still one of the predominant issues facing boardrooms, according to a new quarterly business confidence survey by KPMG.
The survey questioned senior executives about whether they had seen signs of economic recovery out of which 57% answered yes, with another 48% reporting they had seen good signs, firsthand, in their own markets.
A fifth of the executives surveyed reported that they felt UK SME possibilities over the next year were ‘good’ or ‘very good; which was much higher than the ten percent who answered the same last quarter.
At the same time, the amount of executives with a negative view of the future year decreased with 24.5% answering that prospects were ‘very bad’ or ‘bad’ compared to 55% last quarter.
Additionally, only 21% of those surveyed predicted that a ‘double-dip’ scenario is possible, which means the economy will experience a period of growth, only then to sink back into a recession.
Office senior partner for the Manchester KPMG, Jonathon Hurst, said that although the statistics are encouraging, it is important to remember that opinions are still harshly divided.