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Institute of Directors are positive for year ahead

Business directors have shown a growing sense of economic optimism for the year ahead, say the Institute of Directors.

A poll of 1,369 members of the IoD revealed that +31% of directors expect 2013 to be better than last year.

Long-term confidence has also risen, as the balance of those expecting higher UK GDP growth over the coming 10 years compared to the previous decade, rising to +22% in the new poll, compared to -9% in Q1 2012.

Fewer respondents thought the country would return to recession, as 34% suggested a low risk. At the beginning of 2012, 11% thought the risk of was low.

Business leaders remain supportive of deficit reduction as just over half say George Osborne should stick with current policy, and 22% say deficit reduction should be tougher.

Institute of Directors Chief Economist Graeme Leach said: “2012 was a tough year, but business leaders expect 2013 to be much better. The risk of a return to recession and a triple dip has not gone away, but it is receding fast, and expectations of growth are rising.”

“George Osborne’s approval ratings have suffered, but he retains business support overall. The deficit reduction programme in particular has overwhelming backing from UK directors - the Government absolutely must not waver from the course.”

This was posted in Bdaily's Members' News section by Tom Keighley .