CBI kills off the recovery before it's begun
We're all doomed
Agentless Backup is Not a Myth
The Confederation of British Industry is not convinced the economy is over the worst, despite its latest survey showing a continued growth in confidence.
The CBI quarterly survey found a small rise in business volume in the three months ended in December, along with a small rise in profitability. But most firms do not expect this growth to continue over the next quarter.
Ian McCafferty, CBI Chief Economic Adviser, said: "The bounce in UK financial services activity over the past six months is not expected to last as we enter 2010. Firms see their business volumes falling back again, with no further improvement in profitability over the next three months."
32 per cent of those surveyed said business volumes had increased, versus 28 per cent who said it had fallen, a balance of +4 per cent. But looking forward, +13 per cent believe volumes will fall next quarter - the worst result since December 2008 when 25 per cent expected a fall.
Capital investments plans for the year ahead are flat, but some increase in marketing spending is expected.
The survey found only a small fall in the number of people employed. Some 58 per cent of firms believe there will be no further deterioration in financial markets, but 79 per cent now believe the UK is a less competitive centre for financial services, compared to 66 per cent in September.
The full release is here. Researchers spoke to 83 business leaders between 18 November and 2 December. ®
COMMENTS
And the CBI should be trusted because?
They predicted the crisis so well? Their advise helped UK business avoid the worse of the recession? They have been spot on on their recovery predictions so far?
No. They are just spouting crap the same as all the other so called financial advisers because they can't be honest and say 'We just don't know' without loosing face.
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Spot on dood from mars.
CBI he say "Doom. Doom. We are all doomed!"
Tories get elected CBI he say "Great. Great. All is well!"
Yet truth is the situation is exactly what it was, will be and evermore shall be?
There are also notions along lines of speculator makes X billion GBP profit yet, who pays for the turnover that made the X billion GBP possible?
Why exactly the same people that pay for the X billion GBP that the speculators cost UK.
Muginz at the end always pays.
Mugs ..... the worlds full of them .
And as all economic recovery surveys are always overly optimistic and spun to short markets and increase ponzi profits is the situation even worse than shared?
Well, what the hell do you expect whenever it is all still the same as before with the same plonkers at the levers pulling flankers and the wool over your myopic eyes. It is like stealing candy from a baby ...... and what are you going to do about it?
A bit fat Zilch, I'll guess. You'll take it on the chin like a man, and do nothing ........ Meeow.
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