Bloomberg News

U.K. Companies See 40% Chance Recession Return in 2 Year

January 06, 2013

U.K. companies see a 40 percent chance that the British economy will return to recession within two years, according to a Deloitte LLP survey of chief financial officers.

That’s a decline from 43 percent in the third quarter and 47 percent in the second, the financial advisor said in a report published today.

Of the 112 companies surveyed, a net 81 percent said the government’s monetary policy stance is appropriate. Only 4 percent of respondents said the cost and difficulty of raising finance was a major worry for their businesses.

“The emerging picture is of businesses which are constrained by low growth and uncertainty rather than weakness in business models or access to capital,” said Ian Stewart, Deloitte’s chief economist for the U.K.

The executives said the chance of the euro-area breaking up within a year is 22 percent, compared with 37 percent a year earlier. The survey was taken from Nov. 25 to Dec. 11.

To contact the reporter on this story: Simon Kennedy in London at skennedy4@bloomberg.net

To contact the editor responsible for this story: Craig Stirling at cstirling1@bloomberg.net


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