Firms forecast rough times for others but not for themselves
According to the doom-mongers it’s simple: We are in the midst of a credit crisis, heading for a recession with job losses and repossessions on the horizon. However a major survey of business confidence shows the real picture is far more complex.
The Chartered Institute of Management Accountants (CIMA) releases its first Quarterly Economic Survey today which conveys the opinions of 200 finance directors across the country in manufacturing, retail and financial services as well as the public sector.
The majority are buoyant about their own business fortunes. Half the companies report that sales have grown in the past quarter and 62 per cent of firms are forecasting sales growth in the next 4 months.
But despite this almost half of FDs thought the credit crunch is likely to provoke a full-blown recession. Only 15% thought a recession unlikely.
So why do the nation’s business leaders think they are going to be ok while forecasting the rest are more likely to suffer?
Can we expect to see job losses across the country this year or are the warnings greatly exaggerated?
And just how long will any downturn last?
To find out the answer to this and many other questions then click here and watch CIMA’s Ray Perry give you the answers you need whether you are an employer or employee.