Gloom spreads to the regions
13 April 2012
THE corporate gloom in London has spilled over to the rest of the country, according to a report today from the Institute of Directors.
Although there has been a modest improvement in company performance in the past three months, attributed to the end of the Iraq war, business optimism, employment, output and profits are all depressed. A net 56% of firms said they were performing well, down on 80% two years ago.
Manufacturing sector performance was at its worst since the survey began in 1996. Ruth Lea, head of the Institute's policy unit, said: 'There is no indication in these figures that there will be a return to strong economic growth.'
