Suggested business confidence rise welcomed
Fri, 06 Nov 2009
Earlier this week, the Confederation of British Industry (CBI) reported that although demand for their goods has fallen over the past three months, many small firms feel trade is recovering.
Out of 424 business leaders questioned in the CBI's latest Trends Survey, nine per cent said they were more optimistic about their current circumstances, with companies expecting their order accounts to level out in the coming quarter.
Commenting on the study, Harry Katz, principal of Norwest Consultants, said the news was "marvellous".
He added: "That is excellent news, I'm delighted. It follows the manufacturing industry news this week [from the CIPS/Markit Purchasing Managers' Index] that there has been a bit of a resurgence in the sector."
Mr Katz said an increase in demand for hi-tech, high innovation goods was leading to greater optimism within the sector, even if credit conditions remain constrained.
Consumer confidence appears to be on the rise as well, according to the latest report from the British Retail Consortium and Nielsen.
The firms claimed that levels of optimism have reached an 18-month high, despite continued uncertainty over jobs.
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